Influences on Achievement of Funding Goals

Influences on Achievement of Funding GoalsDonna R. LoweThe purpose of the following dissertation, A content compend of Kickstarter The influence of physical body and rewarding motivations on campaign success (Sauro) was to canvas the implications of message skeleton in determining the success or affliction of Kickstarter campaigns. The pick up also explored to what extent conditional cooperation influences the achievement of funding goals. The moot applied framing conjecture on the purpose-making process, which has significant prior inquiry but non in regards to crowdfunding. Sauro (2014) uses a definition use in a previous convey by Dr. Inge Sorenson. Crowdfunding is defined as the micro-financing of psyche projects, and is catered for online by sites like indiegogo.com, sponsume.com, crowdfunder.co.uk, pledgie.com, and kickstarter.com (Sorenson, 2012). Sauro (2014) also uses the term project-based communities meaning a unique community of early adtakeers and investor s of a new product or utility that h atomic number 53 and gather funding pledges. One hundred and twenty Kickstarter campaigns were at random selected and consumed. The key findings were broken down by look into questions. The first research question sought to uncover to what extent did the choice of framing methods ingrain success or failure of the crowdfunding campaigns. The finding was campaigns that used framing had a significantly higher rate of success as opposed to campaigns that used no framing. Out of all campaigns that were successful, 83.3% utilized a prescribed framing method, opposed to 40.8% of unsuccessful campaigns that did not (Sauro, 2014, p. 24). The finding of research question 2 suggests a strong correlation between successful campaigns and conditional cooperation measures. The study identified a relationship between conditional cooperation and donation levels at the end of set funding periods across all categorical tiers (low, medium, and high). adjunct data was also provided. Additional factors that had an impact on the probability of a successful crowdfunding campaign were identified. The findings were factors such as including a self-narrative, stating personal qualifications, and having a lower funding goal had a strong influence on the outcome. Sauro (2014) found of the campaigns that were successful, a self-narrative was present 82.0% of the time, as opposed to 62.2% when campaigns were unsuccessful (p. 29). Suggestions for nurture research included the need to use a larger sample size from all project categories and continued investigation of personal narratives influence. at that place was also a suggestion to include research on whether text-based, video-based, or combination-framing messages could be efficiently used to achieve objectives.Sauro (2014) used prospect theory and message framing as drivers for the crowdfunding donor decision-making process. Prospect theory attempts to formulate the decision-making proces s based on the way the material is presented (Sauro, 2014, p. 8). In involves a decision problem, decision maker, and a decision frame. Rational decision-makers will opt for the prospect that offers the highest expected utility (Tversky Kahneman, 1981, p. 453). Prospect theory expresses outcomes as tyrannical or negative deviations (gains and losses) with regards to an S-curve. Message framing is an important concept for crowdfunding and the study by Chun-Tuan Chang and Yu-Kang Lee (2010) was used to support Sauros dissertation. Framing is the launching of one of two different but equivalent value outcomes to decision-makers, where one outcome is presented in positive and the other in negative wrong (Chang Lee, 2010, p 197). Compliance is encouraged using framing demonstrating gains and losses. Bruno S. Frey and Stephan Meier conducted a subject field examine about charitable giving and conditional cooperation in 2004. The audition supported the theory on conditional cooper ation and found that if people sack out others are making charitable contributions, the likelihood of them making contributions increases but is dummy up linked to previous charitable airs (Frey Meier, 2004, p. 1717). People tend to compare themselves genially to others and are inclined to make charitable donations based on those they happen upon with. These works are extremely important and the foundation for understanding donor behavior while researching crowdfunding.Crowdfunding is a relatively new concept. It involves communications, fundraising, technology, and a amicable media platform. Sauros (2014) used prospect theory, framing, and conditional cooperation as factors of influence for successful crowdfunding campaigns. Daniel Kahneman and Amos Tversky (1979) true the prospect theory. Kahneman and Tverskys study Prospect Theory An analysis of decision under risk introduces one of the most quoted theories in economic psychology. real in the 1980s, the theory has had considerable impact on understanding how decisions are derived using gains and losses. The theory of framing was introduced by Erving Goffman (1974). Goffman was considered the most influential American sociologist of the twentieth century (Fine Smith, 2000). Goffman wrote several books and fundamentally changed the way we think of social interactions. His work is considered unparalleled and he is extensively cited in behavioral studies. His superior contribution to social theory is his study of symbolic interaction, which began in 1959. He studied social order, interactions, stigmas, routine transactions, serviceman behavior, etc. He was not a traditional sociologist and his work was influenced by Durkheim, Freud, Mead, Simmel, and Radcliffe-Brown (Yakkaldevi, 2013, p. 74). Albert Bandura is associated with social learning theory. accord to Bandura (1977), Learning would be exceedingly laborious, not to mention hazardous, if people had to imprecate solely on the effects of the ir own actions to inform them what to do. Fortunately, most human behavior is learned observationally through modeling from observing others one forms an creative thinker of how new behaviors are performed, and on later occasions this coded information serves as a guide for action. Bandura is well known for his famous Bobo doll experiment where children were demonstrated to learn aggression through observations and interactions (Bandura, Ross, Ross, 1961). His work is considered to be break of the cognitive revolution in psychology.ReferencesBandura, A. (1977). Social Learning Theory. New York common Learning Press.Bandura, A., Ross, D. Ross, S.A. (1961). Transmission of aggression through imitation of aggressive models. daybook of Abnormal and Social Psychology, 63, 575-82.Chang, C., Lee, Y. (2010). Effects of message framing, vividness congruency and statistical framing on responses to charity advertising. International Journal of Advertising, 29(2), 195-220.Fine, G. A. Sm ith, G. W. (2000). SAGE Masters of young Social Thought Erving Goffman (Vols. 1-4). London SAGE Publications Ltd. inside http//dx.doi.org/10.4135/9781446261545Frey, B. S., Meier, S. (2004). Social comparisons and pro-social behavior Testing conditional cooperation in a field experiment. The American frugal Review, 94(5),1717-1722.Sauro, J. J. (2014). A content analysis of Kickstarter The influence of framing and rewarding motivations on campaign success (Doctoral dissertation). Available from ProQuest Dissertations and These Database. (UMI No. 1556435)Sorenson, I. E. (2012). Crowdsourcing and outsourcing The impact of online funding and dispersion on the documentary film industry in the UK. Media Culture and Society, 34, 726-743. doi10.1177/0163443712449499Tversky, A., Kahneman, D. (1979). Prospect theory An analysis of decision under risk. Econometrica, 47(2), 263-291. doi 10.2307/1914185Tversky, A. Kahneman, D. (1992). Advances in prospect theory Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5(4), 297323.Yakkaldevi, A. S. (2013). Phenomenology and Enthomethodology. India Laxmi carry Publication.