Post-crowdfunding in reward-based crowdfunding with strategic purchasing consideration

Peng Du, Lei Xu, Xiaojiao Qiao, Haobo Li, Dahui Li

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Scopus citations

Abstract

The post-crowdfunding refers to the sale of products 'very successful' in reward-based crowdfunding after the backers have been rewarded. It offers an opportunity for the creators to exploit the remaining untapped profit after the crowdfunding period. The post-crowdfunding includes the resale and normal sale stage, which involves the creators' various policies under the capital constraint based on the raised fund; however, this crowdfunding program receives little attention in academic. To this end, this paper constructs a two-stage model to examine the resale policy of crowdfunding product, in which the consumers' strategic purchasing behavior is also considered. Backward induction and a genetic algorithm are employed to obtain the optimal pricing decisions. Besides, numerical studies are also conducted to derive some managerial insights.

Original languageEnglish (US)
Title of host publication14th International Conference on Services Systems and Services Management, ICSSSM 2017 - Proceedings
EditorsXiaoqiang Cai, Jiafu Tang, Jian Chen
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781509063697
DOIs
StatePublished - Jul 28 2017
Externally publishedYes
Event14th International Conference on Services Systems and Services Management, ICSSSM 2017 - Dalian, China
Duration: Jun 16 2017Jun 18 2017

Publication series

Name14th International Conference on Services Systems and Services Management, ICSSSM 2017 - Proceedings

Other

Other14th International Conference on Services Systems and Services Management, ICSSSM 2017
CountryChina
CityDalian
Period6/16/176/18/17

Bibliographical note

Funding Information:
This research was supported in part by National Natural Science Foundation of China (Grant No. 71302005, 71672125), Major Research Project of National Natural Science Foundation of China (Grant No. 91646117)..

Keywords

  • Capacity constraint
  • Information value
  • Innovative product
  • Strategic customers

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