Experts in the crowd and their influence on herding in reward-based crowdfunding of cultural projects

Small Business Economics ◽

10.1007/s11187-020-00424-x ◽

2021 ◽

Author(s):

Aurélien Petit ◽

Peter Wirtz

Keyword(s):

Social Influence ◽

Success Probability ◽

Creative Industry ◽

Information Cascades ◽

Relevant Field ◽

Informational Social Influence ◽

Analyse Data ◽

The Impact ◽

Day By Day

AbstractThe present research investigates certification effects and rational herding in reward-based crowdfunding (RBCF) campaigns of cultural projects. Culture is a domain where expert opinion traditionally plays an important role. Consequently, to test the role of experts in collective behaviour and outcomes of crowdfunding campaigns, RBCF of cultural projects is a particularly relevant field. The authors analyse data obtained from France’s leading RBCF platform, Ulule, and show that the contributing crowd is heterogeneous, both in terms of expertise and willingness to follow information cascades. Testing the impact of different backer categories on (1) campaign success, (2) composition of the crowd and (3) overall day-by-day funding dynamics, the study provides evidence of the existence of both a certification effect at the very beginning of a funding campaign, and dynamic herding later all along the campaign. Contributions from expert backers, whether specialized in the same creative industry as a given project or not, trigger additional contributions and improve the success probability of a funding campaign. Senior experts follow other senior experts, which supports normative social influence and, when specialized, they follow other specialized senior experts, which highlights taste-based homophily. We also show that junior experts, i.e. future serial backers, follow senior experts, particularly when specialized, which supports informational social influence. Experts hence lead the crowd in their decision to contribute to cultural projects, and those who follow them are mostly senior experts themselves and apprentice experts, not one-time contributors, which suggests the existence of community logic and rational information cascades in RBCF.

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The role of cultural industries in modern cultural life of the region (on the example of N. D. Neustroev's comedy “Tieteybit”)

Философия и культура ◽

10.7256/2454-0757.2021.9.34510 ◽

2021 ◽

pp. 47-52

Author(s):

Nurgun Vyacheslavovich Afanasev ◽

Ul'yana Valer'evna Titova

Keyword(s):

Cultural Heritage ◽

Social Life ◽

Creative Industries ◽

Creative Industry ◽

Young Generation ◽

Regional Culture ◽

Classical Literature ◽

Cultural Life ◽

The Impact

The object of this research is the role of the comedy “Tieteybit” by N. D. Neustroev in cultural life of the Sakha Republic (Yakutia). The subject is the impact of modern creative industries upon cultural life of the region. On the example of Nikolay Denisovich Neustroev's comedy play “Tieteybit”, the authors examine the use of creative approaches towards preservation and popularization of cultural heritage of the Sakha people. It is noted that over the recent years, a major event in the development of spiritual culture and cultural life of the region overall has become the innovations introduced by the contemporaries in staging the Yakut comedies. Motifs of the comedy “Tieteybit” served as the prototype for staging the the first Yakut musical comedy, and even a film. A survey was conducted touching upon the following questions: are the innovations introduced in culture in form of a screen version of classical literature with the elements of innovation encourage the young generation to studying the Yakut cultural heritage?; what is the relevance of the work by N. D. Neustroev “Tieteybit”? The conclusions is made that in the XXI century, N. D. Neustroev's comedy “Tieteybit” has become one of the basics for the development of creative industry of the region. As an instrument for the development of regional culture, creative industry may play the strongest and highly effective role in the development of social life of the region.

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Drivers of intention to use Murabaha financing: religiosity as moderator

Journal of Islamic Marketing ◽

10.1108/jima-07-2019-0147 ◽

2020 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Naqeeb Ullah Atal ◽

Mohammad Iranmanesh ◽

Fathyah Hashim ◽

Behzad Foroughi

Keyword(s):

Social Influence ◽

Reasoned Action ◽

Intention To Use ◽

Content Type ◽

The Impact ◽

Positive Effect ◽

Moderating Role ◽

Insight Into ◽

Religious Obligation

Purpose The purpose of this paper is to investigate the determinants of Muslims’ attitude and intention towards Murabaha financing by considering religiosity as a moderator. Design/methodology/approach The data were collected through a survey of 373 Muslims in Afghanistan and were analysed using the partial least squares technique. Findings The results showed that social influence and religious obligation have a positive effect on attitude towards Murabaha financing. Furthermore, social influence and attitude have a positive effect on the intention to use Murabaha financing. Religiosity moderates negatively the impact of social influence on attitude towards Murabaha financing. Practical implications Managers and marketers of Islamic banks may benefit from the findings of this study, which provide insight into the factors that should be considered to promote Murabaha financing. Originality/value The findings contribute to the literature on Islamic financing products by demonstrating the drivers of attitude towards and intention to use Murabaha financing. The study also extends the literature by testing the moderating role of religiosity. Furthermore, the study extends the theory of reasoned action in the context of Islamic financing by introducing religious obligation as a potential driver of attitude and religiosity as a moderator.

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Anticipated embarrassment due to social presence withholds consumers from purchasing products that feature a lucky charm

European Journal of Marketing ◽

10.1108/ejm-02-2015-0087 ◽

2017 ◽

Vol 51 (9/10) ◽

pp. 1612-1630 ◽

Cited By ~ 3

Author(s):

Di Wang ◽

Harmen Oppewal ◽

Dominic Thomas

Keyword(s):

Social Influence ◽

Impression Management ◽

Social Presence ◽

Purchase Decisions ◽

Product Selection ◽

Content Type ◽

The Social ◽

The Impact ◽

Superstitious Beliefs

Purpose Several studies have shown that superstitious beliefs, such as beliefs in “lucky” product attributes, influence consumer purchase behaviour. Still, little is known about how social influence, in particular mere social presence, impacts consumer superstition-related purchase decisions. Drawing on impression management theory, this paper aims to investigate the effect of social presence on consumer purchase decisions of products featuring lucky charms including the role of anticipated embarrassment as a mediator of the social presence effect. Design/methodology/approach In three studies, participants select products that feature or do not feature a lucky charm. They make these selections under varying conditions of social presence, as induced by the shopping setting in the scenario or through the use of confederates or fellow participants observing them make a real product selection. Participants are students from Australia and China. Findings The studies show that social presence makes consumers less likely to select products that feature a lucky charm. This suppressing effect is mediated by the consumers’ anticipated embarrassment. Research limitations/implications The study investigates the effect of social presence but does not investigate different parameters of social presence such as the number of people present and their familiarity. The study investigates effects for purchase settings but does not include effects of usage and neither does it look into differences across product types or lucky charm types. Practical implications Marketers should be careful to not make lucky charms too publicly salient. Online settings are more suitable than mortar-and-brick settings for selling products featuring a lucky charm. Originality/value The present research is the first to investigate consumer purchase behaviour for a product featuring a lucky charm. It is also the first to investigate the impact of social influence on superstition-based decision-making.

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Consumer's decision to shop online: The moderating role of positive informational social influence

Information & Management ◽

10.1016/j.im.2010.08.005 ◽

2011 ◽

Vol 48 (6) ◽

pp. 185-191 ◽

Cited By ~ 114

Author(s):

Matthew K.O. Lee ◽

Na Shi ◽

Christy M.K. Cheung ◽

Kai H. Lim ◽

Choon Ling Sia

Keyword(s):

Social Influence ◽

Informational Social Influence ◽

Moderating Role

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Customer Equity Drivers, Customer Experience Quality, and Customer Profitability in Banking Services: The Moderating Role of Social Influence

Journal of Service Research ◽

10.1177/1094670519856119 ◽

2019 ◽

Vol 23 (2) ◽

pp. 174-193 ◽

Cited By ~ 3

Author(s):

Lily (Xuehui) Gao ◽

Iguácel Melero-Polo ◽

F. Javier Sese

Keyword(s):

Social Influence ◽

Financial Services ◽

Firm Value ◽

Customer Experience ◽

Customer Equity ◽

Banking Services ◽

Relationship Equity ◽

The Impact ◽

Moderating Role

Financial service organizations are increasingly interested in ways to improve the service experience quality for customers, while customers progressively perceive the commoditization of banking services. This is no easy task, as factors outside the control of the service firm can influence customers’ perceptions of their experience. This study builds on the customer equity framework to understand the linkages between what the firm does (customer equity drivers: value equity, brand equity, and relationship equity), the social environment (social influence), the customer experience quality, and its ultimate impact on profitability. Using perceptual and transactional data for a sample of customers of financial services, we demonstrate the central role played by factors under the control of the firm (value, brand, and relationship equity) and those outside its control (social influence) in shaping customers’ perceptions of the quality of their experience. We offer new insights into the moderating role of social influence in the linkages between the customer equity drivers and the customer experience quality. The managerial takeaway is that the impact of customer equity drivers on the customer experience quality is contingent on the influence exerted by other people and that enhancing customer experience quality can be a way to increase monetary returns.

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Social influence of hubs in information cascade processes

Management Decision ◽

10.1108/md-10-2016-0681 ◽

2017 ◽

Vol 55 (4) ◽

pp. 730-744 ◽

Cited By ~ 3

Author(s):

Joohyun Kim ◽

Ohsung Kwon ◽

Duk Hee Lee

Keyword(s):

Social Influence ◽

Design Methodology ◽

Computational Simulation ◽

Innovation Adoption ◽

Information Cascades ◽

Eigenvector Centrality ◽

Content Type ◽

Cascade Processes ◽

Sequential Voting

Purpose The purpose of this paper is to explore how hubs’ social influence on social network decisions can cause the behavior of information cascades in a market. Design/methodology/approach The authors establish understanding of the fundamental mechanism of information cascades through a computational simulation approach. Findings Eigenvector centrality, betweenness centrality, and PageRank are statistically correlated with the occurrence of information cascades among agents; the hubs’ incorrect decisions in the early diffusion stage can significantly cause misled shift cascades; and the bridge role of hubs is more influential than their pivotal position role in the process of misled shift cascades. Originality/value This implication can be extendable in the field of marketing, sequential voting, and technology, or innovation adoption.

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