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This chapter considers two of the main ideas of crowdfunding: learning market demand and signalling. Learning market demand means that firms can use crowdfunding campaigns (or some stages of the crowdfunding process) to learn information (“crowd wisdom”) about the market (Catalini & Gans, 2018; Chemla & Tinn, 2019; Ellman & Hurkens, 2019; Miglo, 2021b; Schwienbacher, 2018; Strausz, 2017).

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Crowdfunding, Learning “Crowd Wisdom” and Signalling

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  • 发表日期：

    2026年

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  • Anton Miglo,
  • Victor Miglo

摘要

This chapter considers two of the main ideas of crowdfunding: learning market demand and signalling. Learning market demand means that firms can use crowdfunding campaigns (or some stages of the crowdfunding process) to learn information (“crowd wisdom”) about the market (Catalini & Gans, 2018; Chemla & Tinn, 2019; Ellman & Hurkens, 2019; Miglo, 2021b; Schwienbacher, 2018; Strausz, 2017).