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Paper Number
1975
Paper Type
Complete
Description
Crowdfunding platforms enable individuals or groups to appeal to the public to support a variety of ventures or campaigns. Whilst the majority of campaigns raise funds for private causes, some of the issues for which help is being sought have arisen as a direct consequence of world events and crises. Nevertheless, the research on charitable crowdfunding has largely ignored this connection. We use the COVID-19 pandemic, and related public health policies, to explore the impact of the global crisis on donation behavior on the donation-based crowdfunding platform GoFundMe. By using a quasi-experimental research design, we find that after the introduction of stay-at-home orders, campaigns in U.S. states with such measures experienced a significant decline in the number of donors and amounts donated, which is more pronounced for crisis-related than for non-crisis-related campaigns. Our findings contribute to the literature by providing novel insights on crowdfunding behaviors in times of societal crisis.
Recommended Citation
Althaus, Maike; Poniatowski, Martin; and Kundisch, Dennis, "Tackling Crises Together? – An Econometric Analysis of Charitable Crowdfunding During the COVID-19 Pandemic" (2022). ICIS 2022 Proceedings. 7.
https://aisel.aisnet.org/icis2022/soc_impact_is/soc_impact_is/7
Tackling Crises Together? – An Econometric Analysis of Charitable Crowdfunding During the COVID-19 Pandemic
Crowdfunding platforms enable individuals or groups to appeal to the public to support a variety of ventures or campaigns. Whilst the majority of campaigns raise funds for private causes, some of the issues for which help is being sought have arisen as a direct consequence of world events and crises. Nevertheless, the research on charitable crowdfunding has largely ignored this connection. We use the COVID-19 pandemic, and related public health policies, to explore the impact of the global crisis on donation behavior on the donation-based crowdfunding platform GoFundMe. By using a quasi-experimental research design, we find that after the introduction of stay-at-home orders, campaigns in U.S. states with such measures experienced a significant decline in the number of donors and amounts donated, which is more pronounced for crisis-related than for non-crisis-related campaigns. Our findings contribute to the literature by providing novel insights on crowdfunding behaviors in times of societal crisis.
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05-SocImpact