Crowdfunding and Uncertain Decision Problems—Applying Shannon Entropy to Support Entrepreneurs
- Author(s)
- Valerie Busse, Christine Strauss
- Abstract
Crowdfunding has become an interesting and widely accepted alternative to finance start-ups and projects. This paper presents an introductory motivation by making transparent recent developments in crowdfunding; furthermore, it provides insights into the decision-making of the involved crowdfunding actors in their triadic relationship. Based on empirical data collected from five in-depth expert interviews we identified several factors, which influence the behavioral decision process of an entrepreneur when making a choice on a crowdfunding platform for their crowdfunding campaign. On the example of two of those identified factors we formalize the entrepreneur’s decision process using Shannon Entropy and give a numerical example. Results are interpreted and directions for further research are given.
- Organisation(s)
- Department of Marketing and International Business
- External organisation(s)
- Comenius University Bratislava
- Volume
- 2
- Pages
- 289-304
- No. of pages
- 16
- DOI
- https://doi.org/10.1007/978-3-030-76632-0_10
- Publication date
- 2021
- Peer reviewed
- Yes
- Austrian Fields of Science 2012
- 502050 Business informatics, 502007 E-commerce, 502054 Entrepreneurship
- ASJC Scopus subject areas
- Computer Science (miscellaneous), Control and Systems Engineering, Automotive Engineering, Social Sciences (miscellaneous), Economics, Econometrics and Finance (miscellaneous), Control and Optimization, Decision Sciences (miscellaneous)
- Portal url
- https://ucris.univie.ac.at/portal/en/publications/crowdfunding-and-uncertain-decision-problemsapplying-shannon-entropy-to-support-entrepreneurs(7611094b-5d16-4338-8e0d-ebd64e06d120).html