Crowdfunding: a resource exchange perspective

Authors:
Michael D. Greenberg;Julie Hui;Elizabeth Gerber
Affiliations:
Northwestern University, Evanston, USA;Northwestern University, Evanston, USA;Northwestern University, Evanston, USA
Venue:
CHI '13 Extended Abstracts on Human Factors in Computing Systems
Year:
2013

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Abstract

Online crowdfunding has gained attention among novice entrepreneurs as an effective platform for funding their ventures. However, a focus on the financial nature of the relationship has obscured the complex interpersonal interactions involving the exchange of non-financial resources. Drawing from resource exchange theory in the marketing literature, we look at the exchange of resources and the mechanisms that facilitate this exchange in online crowdfunding. We analyzed 81 popular online crowdfunding platforms to reveal the exchange of various resources including: money, love, information, status, goods, and services through mediated, unmediated, and hybrid structures. Using resource exchange theory as a lens, we examine crowdfunding as a new type of crowdwork platform and explain how resource exchange theory can help the HCI community understand new, crowdwork platforms.