Avoiding Peer Information and Its Effects on Charity Crowdfunding: A Field Experiment

• 成果类型: Article; Early Access
• 署名作者: Chan, Tat Y.; Liao, Li; Martin, Xiumin; Wang, Zhengwei
• 署名单位: Washington University (WUSTL); Tsinghua University
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2023.4807
• 发表日期: 2023
• 关键词: Information avoidance; charity giving; Crowdfunding; Peer Comparison; behavioral economics; field experiment

摘要

We study the behavior of an individual avoiding peer information from a natural field experiment of charity crowdfunding. The unique experimental design enables us to employ an instrumental variable strategy to identify how the behavior influences individual giving to and promotion of charity campaigns. We find that, even with free access, 89% of individuals chose not to seek peer information. These individuals were less likely, whereas their peers were more likely to give and help promote in the past. The behavior would reduce the total distribution of campaigns by 8.5% and the total donation amount by 7.7%. A stylized model is used to illustrate how the pressure from peer comparison drives the individuals not to seek the information and how this behavior could influence giving and promoting behaviors of a group of marginal individuals.