Beyond Financial Motivations in Crowdfunding: A Systematic Literature Review of Donations and Rewards

This study presents an interdisciplinary systematic review of the literature on donation-based and reward-based crowdfunding. The literature to date has explored differences in crowd’s behavior and incentives for participating in the platform, as well as the factors governing funding and post-funding success. The authors summarize the main findings to date and synthesize the different theoretical explanations for the decision-making behavior of the crowd. The investigation reveals how the literature to date has upheld the importance of crowdfunding as a social and democratic tool, one that demonstrates wise judgment and clairvoyance in recognizing potential successes and creating value for society.