Understanding trust amid delays in crowdfunding

Yongsung Kim, Aaron Shaw, Haoqi Zhang, Elizabeth M Gerber

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

15 Scopus citations

Abstract

Trust is essential for beginning and maintaining relationships online where assessing uncertainties and risks is difficult. While product delays have been shown to reduce trust in e-commerce settings, we understand little about the effect of delays on trust in the increasingly popular context of crowdfunding. In a mixed method study, we examine what factors influence backers' trust in crowdfunding when rewards are delayed. Based on in-depth interviews with crowdfunding participants, we found that a rich set of factors influenced backers' trust including backers' role identity and domain knowledge, backer's research on a creator's background, creators' communication during delays, and duration of delays. To better understand the factors affecting delays, we conducted a regression analysis with 4,089 delayed projects and found that the funding goal, number of backers, percent raised, number of reward levels, and creator's previous crowdfunding experience are associated with the duration of delay. We discuss design implications for managing delays and maintaining trust in crowdfunding.

Original languageEnglish (US)
Title of host publicationCSCW 2017 - Proceedings of the 2017 ACM Conference on Computer Supported Cooperative Work and Social Computing
PublisherAssociation for Computing Machinery
Pages1982-1996
Number of pages15
ISBN (Electronic)9781450343350
DOIs
StatePublished - Feb 25 2017
Event2017 ACM Conference on Computer Supported Cooperative Work and Social Computing, CSCW 2017 - Portland, United States
Duration: Feb 25 2017Mar 1 2017

Publication series

NameProceedings of the ACM Conference on Computer Supported Cooperative Work, CSCW

Other

Other2017 ACM Conference on Computer Supported Cooperative Work and Social Computing, CSCW 2017
CountryUnited States
CityPortland
Period2/25/173/1/17

Keywords

  • Communication
  • Crowdfunding
  • Delays
  • Entrepreneurship
  • Expectations
  • Trust

ASJC Scopus subject areas

  • Software
  • Computer Networks and Communications
  • Human-Computer Interaction

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  • Cite this

    Kim, Y., Shaw, A., Zhang, H., & Gerber, E. M. (2017). Understanding trust amid delays in crowdfunding. In CSCW 2017 - Proceedings of the 2017 ACM Conference on Computer Supported Cooperative Work and Social Computing (pp. 1982-1996). (Proceedings of the ACM Conference on Computer Supported Cooperative Work, CSCW). Association for Computing Machinery. https://doi.org/10.1145/2998181.2998207