Crowdfunding as Gambling: Evidence from Repeated Natural Experiments
| Autor: | Tolga Demir, Ali Mohammadi, Kourosh Shafi |
|---|---|
| Přispěvatelé: | Demir, Tolga |
| Jazyk: | angličtina |
| Rok vydání: | 2022 |
| Předmět: |
040101 forestry
Economics and Econometrics 050208 finance Strategy and Management Peer-to-peer lending 05 social sciences Novelty Advertising 04 agricultural and veterinary sciences Lottery 0502 economics and business Gambling Fin-tech 0401 agriculture forestry and fisheries Sensation seeking Natural (music) Business Business and International Management Crowdfunding Finance |
| Zdroj: | Journal of Corporate Finance |
| ISSN: | 1872-6313 0929-1199 |
| Popis: | Lenders in Prosper, one of the largest lending markets in the U.S., reduce their activity when playing multistate Powerball or Mega Millions lottery jackpot becomes attractive. This finding suggests that the desire for sensation seeking is an underlying motivation for participating in peer-to-peer crowdfunding markets; the thrill of winning a large lottery jackpot fulfills some lenders' desire for novelty and sensation seeking, thus decreasing their lending activity. We discuss our findings' implications for lenders, borrowers, platform organizers, and policymakers. © 2021 Elsevier B.V. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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