The Experts below are selected from a list of 221904 Experts worldwide ranked by ideXlab platform
Brian Knight - One of the best experts on this subject based on the ideXlab platform.
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parochial interests and the centralized provision of local public goods evidence from congressional voting on transportation Projects
Journal of Public Economics, 2004Co-Authors: Brian KnightAbstract:Abstract Local public goods financed from a national tax base provide concentrated benefits to recipient jurisdictions but disperse costs, creating incentives for legislators to increase own-district spending but to restrain aggregate spending due to the associated tax costs. While these common pool incentives underpin a variety of theoretical analyses, which tend to predict inefficiencies in the allocation of public goods, there is little direct evidence that individual legislators respond to such incentives. To test for reactions to such incentives, this paper analyzes 1998 Congressional votes over transportation Project Funding. The empirical results provide evidence that legislators respond to common pool incentives: the probability of supporting the Projects is increasing in own-district spending and decreasing in the tax burden associated with aggregate spending. Having found that legislators do respond to such incentives, I use the parameter estimates to calculate the efficient level of public goods, which suggest over-spending in aggregate, especially in politically powerful districts, and large associated deadweight loss.
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parochial interests and the centralized provision of local public goods evidence from congressional voting on transportation Projects
Social Science Research Network, 2003Co-Authors: Brian KnightAbstract:Local public goods financed from a national tax base provide concentrated benefits to receipient jurisdictions but disperse costs, creating incentives for legislators to increase own-district spending but to restrain aggregate spending due to the associated tax costs. While these common pool incentives underpin a variety of theoretical analyses, which tend to predict inefficiencies in the allocation of public goods, there is little direct evidence that individual legislators respond to such incentives. To test for reactions to such incentives, this paper analyzes 1998 Congressional votes over transportation Project Funding. The empirical results provide evidence that legislators respond to common pool incentives: the probability of supporting the Projects is increasing in own-district spending and decreasing in the tax burden associated with aggregate spending. Having found that legislators do respond to such incentives, I use the parameter estimates to calculate the efficient level of public goods, which suggest over-spending in aggregate, especially in politically powerful districts, and large associated deadweight loss.
Barry L Bayus - One of the best experts on this subject based on the ideXlab platform.
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crowdFunding creative ideas the dynamics of Project backers
2018Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Entrepreneurs are turning to crowdFunding as a way to finance their creative ideas. CrowdFunding involves relatively small contributions of many consumer-investors over a fixed time period (generally a few weeks). The purpose of this chapter is to add to our empirical understanding of backer dynamics over the Project-Funding cycle. Publicly available data of two years on Projects listed on Kickstarter are used to establish that the typical pattern of Project support is U-shaped—in general, backers are more likely to contribute to a Project in the first and last weeks as compared to the middle period of the Funding cycle. We further establish that this U-shaped pattern of support is pervasive across Projects, including both successfully and unsuccessfully funded Projects, those with large and small goals, and Projects in different categories. We then empirically explore the dynamics associated with several factors, including collective attention effects from platform-sorting options, the role of family and friends in supporting Projects, the effects of social influence, and the role of Project updates over the Project-Funding cycle.
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does my contribution to your crowdFunding Project matter
Journal of Business Venturing, 2017Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Abstract In this study, we consider the dynamics of crowdFunding Project support over time. We propose that people support crowdFunding Projects financially when they believe that their contribution will make an impact. Because perceptions of impact are positively related to goal proximity, we predict that support for a crowdFunding Project will increase as the Project Funding approaches its target goal. In addition, because motivation decreases after a goal is attained, we further predict that crowdFunding contributions will significantly decrease after the target goal is reached. We find strong support for these hypotheses from a large-scale field study involving Kickstarter. Furthermore, we show that several factors related to the expected impact moderate the effects of goal proximity; that is, the positive effect of goal proximity on Project support is accentuated if the Project is nearing its Funding deadline, if the target goal is relatively small, or if the Project has limited early support.
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crowdFunding creative ideas the dynamics of Project backers in kickstarter
2013Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Entrepreneurs are turning to crowdFunding as a way to finance their creative ideas. CrowdFunding involves relatively small contributions of many consumer-investors over a fixed time limit (generally a few weeks). In online crowdFunding communities, potential donors can see the level of support from other Project backers as well as its timing before making their own Funding decisions, suggesting that social information (i.e., others’ Funding decisions) will play an important role in the ultimate success of a Project. Two years of publicly available panel data on successfully and unsuccessfully funded Projects listed on Kickstarter is used to empirically study the role of social information in the dynamic behavior of Project backers. Building off the well-established social psychology theory around diffusion of responsibility effects, we show that additional backer support is negatively related to its past backer support. Many potential backers do not contribute to a Project that has already received a lot of support because they assume that others will provide the necessary Funding. Consistent with the deadline effect widely observed in bargaining and online auctions, we also show that the diffusion of responsibility effects diminish as the Project Funding cycle approaches its closing date. Moreover, as the Project deadline draws near we find that Project updates tend to increase as the Project creators make a final plea for help to reach their Funding goal. Reduced diffusion of responsibility effects, together with the positive influence of Project updates, lead to generally increasing Project support in the final stages of Funding. This is particularly the case for Projects that successfully achieve their goals as they are more likely to have an update in the last weeks of Funding and generate more excitement from recent backers than Projects that fall short.
Venkat Kuppuswamy - One of the best experts on this subject based on the ideXlab platform.
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crowdFunding creative ideas the dynamics of Project backers
2018Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Entrepreneurs are turning to crowdFunding as a way to finance their creative ideas. CrowdFunding involves relatively small contributions of many consumer-investors over a fixed time period (generally a few weeks). The purpose of this chapter is to add to our empirical understanding of backer dynamics over the Project-Funding cycle. Publicly available data of two years on Projects listed on Kickstarter are used to establish that the typical pattern of Project support is U-shaped—in general, backers are more likely to contribute to a Project in the first and last weeks as compared to the middle period of the Funding cycle. We further establish that this U-shaped pattern of support is pervasive across Projects, including both successfully and unsuccessfully funded Projects, those with large and small goals, and Projects in different categories. We then empirically explore the dynamics associated with several factors, including collective attention effects from platform-sorting options, the role of family and friends in supporting Projects, the effects of social influence, and the role of Project updates over the Project-Funding cycle.
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does my contribution to your crowdFunding Project matter
Journal of Business Venturing, 2017Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Abstract In this study, we consider the dynamics of crowdFunding Project support over time. We propose that people support crowdFunding Projects financially when they believe that their contribution will make an impact. Because perceptions of impact are positively related to goal proximity, we predict that support for a crowdFunding Project will increase as the Project Funding approaches its target goal. In addition, because motivation decreases after a goal is attained, we further predict that crowdFunding contributions will significantly decrease after the target goal is reached. We find strong support for these hypotheses from a large-scale field study involving Kickstarter. Furthermore, we show that several factors related to the expected impact moderate the effects of goal proximity; that is, the positive effect of goal proximity on Project support is accentuated if the Project is nearing its Funding deadline, if the target goal is relatively small, or if the Project has limited early support.
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crowdFunding creative ideas the dynamics of Project backers in kickstarter
2013Co-Authors: Venkat Kuppuswamy, Barry L BayusAbstract:Entrepreneurs are turning to crowdFunding as a way to finance their creative ideas. CrowdFunding involves relatively small contributions of many consumer-investors over a fixed time limit (generally a few weeks). In online crowdFunding communities, potential donors can see the level of support from other Project backers as well as its timing before making their own Funding decisions, suggesting that social information (i.e., others’ Funding decisions) will play an important role in the ultimate success of a Project. Two years of publicly available panel data on successfully and unsuccessfully funded Projects listed on Kickstarter is used to empirically study the role of social information in the dynamic behavior of Project backers. Building off the well-established social psychology theory around diffusion of responsibility effects, we show that additional backer support is negatively related to its past backer support. Many potential backers do not contribute to a Project that has already received a lot of support because they assume that others will provide the necessary Funding. Consistent with the deadline effect widely observed in bargaining and online auctions, we also show that the diffusion of responsibility effects diminish as the Project Funding cycle approaches its closing date. Moreover, as the Project deadline draws near we find that Project updates tend to increase as the Project creators make a final plea for help to reach their Funding goal. Reduced diffusion of responsibility effects, together with the positive influence of Project updates, lead to generally increasing Project support in the final stages of Funding. This is particularly the case for Projects that successfully achieve their goals as they are more likely to have an update in the last weeks of Funding and generate more excitement from recent backers than Projects that fall short.
Qingbin Cui - One of the best experts on this subject based on the ideXlab platform.
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introduction to a crowdfunded public private partnership model in the united states policy review on crowdfund investing
Transportation Research Record, 2015Co-Authors: Morteza Farajian, Alexandra J Lauzon, Qingbin CuiAbstract:CrowdFunding is a tool to raise capital for a Project or venture from individuals (the crowd) through an intermediary online platform. In the United States, the passage of the Jumpstart Our Business Startups Act in 2012 has led to a rapidly changing legislative and regulatory environment that provides the flexibility to use crowdFunding as a financial mechanism for Project Funding. This flexibility used in public–private partnership (PPP) Projects provides the opportunity to engage institutional and individual investors as direct equity investors. This crowdfunded PPP model results in an enhanced version of the current PPP model and creates value beyond just the financing benefits. Because of the novelty of the approach and the potential impact on taxpayers, a comprehensive look at the approach is needed. This paper introduces a crowdfunded PPP model and begins a policy review on the model by using an analysis of strengths, weaknesses, opportunities, and threats (SWOT). This analysis looks through the len...
Thomas Ditlev Brunoe - One of the best experts on this subject based on the ideXlab platform.
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factors affecting schedule delay cost overrun and quality level in public construction Projects
Journal of Management in Engineering, 2016Co-Authors: Jesper Larsen, Geoffrey Qiping Shen, Soren Munch Lindhard, Thomas Ditlev BrunoeAbstract:AbstractAs a result of the loss of financial resources and the need to optimize Projects, academics, politicians, and the construction industry have become increasingly aware of the challenges presented by the frequent time and cost overruns and reduced quality of construction Projects. The purpose of this study was to analyze the factors that Project managers experience as having the greatest effect on time, cost, and quality, and to discover whether the effects of these factors are significantly different from each other. A questionnaire with 26 factors identified from interviews was sent to the full population of publicly employed Project managers. Factors were ranked using the relative importance index and tested for significant differences using Friedman’s test. Wilcoxon’s test was used in a post-hoc analysis. From the findings it was determined that the most influential factor for time is unsettled or lack of Project Funding; for cost, errors or omissions in consultant material; and for quality, err...
