Search results

Crowdfunding creates multifaceted benefits for different agents who all desire to extract some of these benefits. The purpose of this paper is to analyze the allocation of crowdfunding benefits among crowdfunders, entrepreneurs, and venture capitalists.

The present paper develops a multi-stage bargaining model with a double-sided moral hazard.

It is demonstrated that higher entrepreneurial bargaining power vis-à-vis the crowd may not always be beneficial for the venture. Most importantly, this is due to the reduced success probability of crowdfunding resulting from higher bargaining power of the entrepreneur. Bargaining power and the value of outside options determine the equilibrium allocation of crowdfunding benefits, expected venture value, and thus expected wealth of all agents.

Entrepreneurs face a tradeoff between venture quality gains and worse outcomes from crowdfunding campaigns. Crowdfunding success and thus venture quality gains are the ultimate goal of policy makers if they aim to enhance the overall social welfare.

This paper is the first to investigate how multifaceted crowdfunding benefits are allocated between the crowd, entrepreneurs, and venture capitalists. The paper furthers the development of an appropriate regulatory framework for crowdfunding by depicting new and original effects related to crowdfunding.

The purpose of this paper is to examine the manner in which advocates of crowdsourcing reconfigure the classical sociological treatment of the crowd.

The approach taken conceives of the semantics of crowd theorizing in three phases, each of which makes sense of the power dynamics between the elite and the crowd. In phases one and two, the crowd is conceptualized as a problem generator; in phase three, the crowd is depicted as a problem solver and innovator.

This paper provides a critical look at phase three crowd theorizing. It explores how, by ignoring the disruptive power dynamic, crowdsourcing generates a credible image of the crowd as an innovator and problem solver. The work concludes with a discussion of the implications of phase three crowd theorizing for researchers in sociology.

Advocates of the wisdom of crowds, if interested in the sociological implications of their position, must attend to both the disruptive and costly implications of third phase crowd theorizing.

This paper maps the crowdsourcing process and places it in context. It argues that the distance between the classical social scientific treatment of the crowd is not nearly as great as crowdsourcing advocates would have one believe. Nevertheless, phase three crowd theorizing opens up sociologically relevant questions regarding the future portrayal of collective intelligence as a form of virtual property.

The purpose of this chapter was to deconstruct the underlying contradictions of crowdfunding practices and to show how crowdfunding practitioners develop a schizophrenic use of these contradictions.

The main contradictions of crowdfunding practices are introduced with theoretical references. Then short cases are used to illustrate how crowdfunding practitioners try to cope with these contradictions.

The crowd addresses many contradictions, first because it is a syncretic concept, second because online crowds are still to be proven crowds. In any case, crowdfunding practitioners do their best to take the advantage of these contradictions, and run the risk of falling between two stools.

An attempt to provide an analysis of crowdfunding as a social, and not only economic, phenomenon, to suggest avenues for further critical research on crowdfunding.

The purpose of this paper was to decipher the contradictions and the ambiguities of crowdfunding as a term and as a practice to reveal the deeper significance of its underlying Zeitgeist.

Three steps were followed. In the first one, the authors underline the ambiguities of crowd as a concept in its traditional meaning as well as in the realities, it may depict when referring to connected people. Thereafter, the many practices of crowdfunding with the apparent univocity of this term were confronted.

These analyses led the authors to consider crowdfunding as ideology: an incantatory use of crowd can conceal an effective profit-making process, as well as a new way to unblock a stalling social elevator.

As per the authors’ knowledge, this paper is the first one to try to conceptualize the social roots of crowdfunding and to analyze its deeper significance, as complementary to an already developed “how-to-do-it” literature. It is worth confronting this piece of reflexivity with the emerging literature on the assessment of specific crowdfunding operations.

Crowd logistics is a rising phenomenon in last-mile delivery that integrates technological applications and sources a large number of participants to do logistical activities, achieving sustainable shipping in urban environments. However, up until now, there has been limited literature in this field. This research aims to investigate the extrinsic and intrinsic factors that impact the participative behaviour of driver-partners in crowd logistics.

An integrated model is developed based on motivation theory, incorporating attitude as a contributor to both extrinsic and intrinsic motivations. A questionnaire was constructed and distributed to collect data from 303 respondents who are existing or potential driver-partners in Vietnam.

Our findings confirm (1) the influence of monetary rewards on extrinsic motivation and (2) the power of self-efficacy, trust and sense of belonging on intrinsic motivation. Further, we find that attitude positively impacts extrinsic motivation, whereas there is no effect between attitude and intrinsic motivation. Both extrinsic and intrinsic motivations are demonstrated to significantly influence driver-partners' participative intentions. Additionally, a positive association is found between extrinsic and intrinsic motivations.

Findings from this study theoretically enrich the literature on crowd logistics, especially on the supply side, and empirically contribute to implications that are valuable to crowd logistics firms on driver-partner recruitment and business strategy development.

The purpose of this research is to gain a better understanding of how a crowd-shipping platform can achieve a critical mass of senders and carrier crowd members to yield network effects that are necessary for the platform to grow and thrive. Specifically, this research studies the participation decisions of both senders and carriers over time and the impacts of the resulting feedback loop on platform growth and performance.

An agent-based model is developed and used to study dynamic behavior and network effects within a simulated crowd-shipping platform. The model allows both carriers and senders to be represented as autonomous, heterogeneous and adaptive agents, whose decisions to participate in the platform impact the participation of other agents over time. Survey data inform the logic governing agent decisions and behaviors.

The feedback loop created by individual sender and carrier agents' participation decisions generates complex and dynamic network effects that are observable at the platform level. Experimental results demonstrate the importance of having sufficient crowd carriers available when the platform is initially launched, as well as ensuring that sender and carrier participation remains balanced as the platform grows over time.

The model successfully demonstrates the power of agent-based modeling (ABM) in analyzing network effects in crowd-shipping systems. However, the model has not yet been fully validated with data from a real-world crowd-shipping platform. Furthermore, the model's geographic scope is limited to a single census tract. Platform behavior will likely differ across geographic regions, with varying demographics and sender/carrier density.

The modeling approach can be used to provide the manager of a volunteer-based crowd-shipping program for food rescue with insights on how to achieve a critical mass of participants, with an appropriate balance between the number of restaurant food donation delivery requests and the number of crowd-shippers available and willing to make those deliveries.

This research can help a crowd-shipping platform for urban food rescue to grow and become self-sustainable, thereby serving more food-insecure people.

The model represents both senders and the carrier crowd as autonomous, heterogeneous and adaptive agents, such that network effects resulting from their interactions can emerge and be observed over time. The model was designed to study a volunteer crowd-shipping platform for food rescue, with participant motivations driven by personal values and social factors, rather than monetary incentives.

Purpose – The purpose of this chapter is to explore the orientations of consumer and company participants who participate in online crowd-sourced communities.

Methodology/Approach – Using a netnographic approach, we analysed the Nokia Design by Community (NDbC) crowd-sourced information contest, which was organised by Nokia in order to co-create a vision of the community's ‘dream’ Nokia device.

Findings – The findings reveal that community members' social orientations were dramatically different from the host organisation's narrow commercial focus, which led to unresolved tensions and as we posit, the ultimate failure of the initiative.

Research implications – The contemporary discourse on collaborative value co-creation potentially overemphasises the commercial objectives of organisations by failing to acknowledge the need for organisations to address the complex communal objectives and motivations of members of crowd-sourced communities.

Practical implications – Organisations need to acknowledge and address the complex and dynamic communal and commercial tensions that inherently emerge in online crowd-sourced communities. They need to adopt a tribal marketing approach and respectfully engage with community members if the diverse objectives of community members and the host organisations are to be satisfactorily met.

Originality/Value – Organisations and researchers need to recognise and acknowledge that crowdsourcing both begets communal conflict and fosters collaborative behaviour due to contested commercial and social orientations. While mindful of their commercial objectives, organisations will succeed in implementing online crowd-sourcing initiatives if they make a sincere effort to understand and respect the diversity, culture and social norms of the particular crowd-sourced online community concerned.

This study is a systematic literature review of crowdsourcing that aims to present the research evidence so far regarding the extent to which it can contribute to organisational performance and produce innovations and provide insights on how organisations can operationalise it successfully.

The systematic literature review revolved around a text mining methodology analysing 106 papers.

The themes identified are performance, innovation, operational aspects and motivations. The review revealed a few potential directions for future research in each of the themes considered.

This study helps researchers to consider the recent themes on crowdsourcing and identify potential areas for research. At the same time, it provides practitioners with an understanding of the usefulness and process of crowdsourcing and insights on what the critical elements are in order to organise a successful crowdsourcing project.

This study employed quantitative content analysis in order to identify the main research themes with higher reliability and validity. It is also the first review on crowdsourcing that incorporates the relevant literature on crowdfunding as a value-creation tool.

Introduction – In the twenty-first century, which is the age of communication and information, the time and space concepts have changed with new media technologies and changes have occurred in habits and ways of doing business using the Internet. In this respect, crowdsourcing concept comes first among the new applications with which internet users can share content. The crowdsourcing, which may be understood as ‘mass-based work’ or ‘crowded resource’, consists of a combination of ‘crowd’ and ‘source’, and refers to the use of a great number of human societies to do a common work. The crowdsourcing concept, used commonly as of the 2000s for different purposes, is included in the literature as a concept showing the power of crowds. It is a method in which communication and internet technologies are used with efficacy in the advertising and marketing fields.

Purpose – The objective of the present study is to determine the pros and cons of the crowdsourcing concept through new media applications in the form of critical evaluations by examining sample case studies that use the crowdsourcing concept, which is becoming widespread in Turkey and in the whole world in recent years.

Methodology – In this study, the ‘Case (Sample Event) Study Analysis’, which is one of the qualitative research methods and which is a methodological approach that includes examining how the crowdsourcing system works in-depth, will be used.

Findings – Crowdsourcing is becoming a worldwide business model and allows anyone with free time and an internet connection to contribute to economic productivity. This study has discussed the importance of crowdsourcing for companies in contextual terms and has made predictions on how to make this concept become a better model in which fields.

The purpose of this paper is to link crowdsourcing, operations management (OM) and project management (PM). The study demonstrates how crowdsourcing as an open innovation mechanism is operationalised within a complex PM context. Specifically, the study seeks to understand how crowdsourcing as a novel form of OM improves key outcomes.

The authors conducted exploratory research involving five pure-play crowdsourcing firms based in the USA and Australia.

The findings indicate that the firms practise a form of crowdsourcing that allows flexible, efficient and low risk operations and links to contemporary notions of PM such as projectification and project society. The crowd can be used in a new manner to boost success factors tied to PM through open innovation and operational novelty. In terms of OM, crowdsourcing offers flexibility, speed, dynamism and scalability to project processes.

This research is based on five case studies. Further fine-grained, longitudinal research is required to fully understand this phenomenon in a wider range of contexts.

The paper contributes to practices tied to open innovation and provides guidance on how organisations might use large crowds to enhance PM success.

The study represents early scholarship on crowdsourcing and project operations. It makes three contributions. First, the authors introduce a new theoretical framework linking PM and novel aspects of crowdsourcing to extend understandings of projectification, as well as open innovation frameworks. Second, the authors showcase the flexibility and fluidity of the crowdsourcing project process. Third, the authors examine crowdsourcing operations in terms of size, efficiency and scalability which results in timely and efficient output due to innovative technology, along with the element of trust among stakeholders.