TY - GEN
T1 - Understanding trust amid delays in crowdfunding
AU - Kim, Yongsung
AU - Shaw, Aaron
AU - Zhang, Haoqi
AU - Gerber, Elizabeth M
PY - 2017/2/25
Y1 - 2017/2/25
N2 - 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.
AB - 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.
KW - Communication
KW - Crowdfunding
KW - Delays
KW - Entrepreneurship
KW - Expectations
KW - Trust
UR - http://www.scopus.com/inward/record.url?scp=85014766236&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85014766236&partnerID=8YFLogxK
U2 - 10.1145/2998181.2998207
DO - 10.1145/2998181.2998207
M3 - Conference contribution
AN - SCOPUS:85014766236
T3 - Proceedings of the ACM Conference on Computer Supported Cooperative Work, CSCW
SP - 1982
EP - 1996
BT - CSCW 2017 - Proceedings of the 2017 ACM Conference on Computer Supported Cooperative Work and Social Computing
PB - Association for Computing Machinery
T2 - 2017 ACM Conference on Computer Supported Cooperative Work and Social Computing, CSCW 2017
Y2 - 25 February 2017 through 1 March 2017
ER -