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,
11 Pokrovsky Boulevard,
Room Т-614
Phone: (495) 628-83-68
email: fes@hse.ru
Founded in 1992, the HSE Faculty of Economics is the university’s oldest faculty. In the years since it was founded, it has gained a reputation as Russia’s leader in terms of higher economic education.
A fundamental education in modern economic theory and mathematics is combined with the study of applied disciplines, such as taxation, budget policies and processes, financial management and other related fields.
In press
Applied Econometrics. 2024.
In press
In bk.: Oxford Research Encyclopedia of Economics and Finance. Oxford University Press, 2024.
Dagaev D., Paklina S., Parshakov P.
Social Science Research Network. Social Science Research Network. SSRN, 2024
FES International Research Seminar Series with Lecturer Robertas Zubrickas, University of Bath, UK
Our next speaker in the FES International Research Seminar Series is Robertas Zubrickas, who is a Lecturer at the University of Bath, UK
Speaker: Robertas Zubrickas, University of Bath Title: Donation-Based Crowdfunding with Refund Bonuses (joint with Timothy Cason)
The abstract: We study donation-based crowdfunding for threshold public good provision. Our main focus is on an extension with refund bonuses aimed at resolving the problems of equilibrium coordination and free riding. In the case of insufficient contributions, contributors not only have their contributions refunded but they also receive refund bonuses proportional to their pledged contributions. Thus, refund bonuses encourage more contributions but ultimately enough is raised given sufficient preference for the public good and in equilibrium no bonuses need to be paid. We test the predicted effects of refund bonuses in an experiment using a laboratory-based crowdfunding platform that features most main aspects of real-life platforms. Our main empirical result is that refund bonuses substantially increase the rate of funding success when contributors can support multiple projects. Furthermore, our findings also demonstrate that refund bonuses lead to significant economic gains even after accounting for their costs.
Time: 13:40-15:00
Venue: Shabolovka campus, room 3211
FES Seminars webpage: https://economics.hse.ru/en/seminars/
For external participants: to order the pass, please contact Disa Malbakhova dmalbakhova@hse.ru