The Internet crowdfunding which based on "innovative personalization" and "investment democratization" has conspicuous characteristics of the network economy era. In this paper, the "geeks economy" property of the Internet crowdfunding is analyzed and the logical relationship between perceived value and pricing mechanism is proposed. From the discussion, a differential pricing model of crowdfunding product is built up and equilibrium analysis on the creators' optimal pricing strategy is made. The result shows that the existence of "internet geeks" is the basis of the differential pricing strategy of internet crowdfunding, and the formation of "internet community" greatly influences the investment behavior of crowdfunding investors. To be specific, at first,crowdfunding product' price floor (threshold price) should be equal to the low perceived value of investors, the price ceiling (overflow prices) should be between the low perceived value and high perceived value. Secondly, the "altruism motivation", "reputation effect" and "cognitive difference" within the internet crowdfunding community can lead to a further strategic adjustment of the optimal pricing mechanism. Among them, "altruism motivation" and "reputation effect" help to extend the interval of differential pricing, while "cognitive difference" leads to a more narrow interval. A theoretical basis is provided for understanding and optimizing the operation mechanism of the Internet.
LIU Zheng-chi, MA Tao, ZHOU Sha, HE Yan
. Geek Economy,Community Ecology and Pricing Decision in Crowdfunding[J]. Chinese Journal of Management Science, 2017
, 25(9)
: 107
-115
.
DOI: 10.16381/j.cnki.issn1003-207x.2017.09.012
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