Affiliation:
1. Department of Psychology, University of Bern, Switzerland
2. Centre for Entrepreneurship, University of Oslo, Norway
Abstract
Abstract. Crowdfunding enables fundraising of various ventures by collecting money from several donors. We argue that the inclusion of prosocial language contributes to success in this new domain of resource acquisition. In Study 1, we analyzed 164,056 projects from the online crowdfunding platform Kickstarter and found that the higher the percentage of prosocial words employed in a project’s description, the larger the number of investors and the greater the chances of reaching a funding goal. In Study 2 (N = 234), an experimental study, we documented that the use of prosocial words increases the support people thought they would give to a project. Our results indicate that people want to invest their financial resources in ventures that contribute to prosocial goals.
Subject
General Psychology,Sociology and Political Science,Arts and Humanities (miscellaneous),Social Psychology
Cited by
34 articles.
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