SPEAKER: 孙皓琰 副教授，美国里海大学

TIME/DATE: 2026.6.12  14：00

CLASSROOM: A308

ABSTRACT：

This study examines how different match funding schemes influence donor behavior in civic crowdfunding. Using over ten years of data from Goteo.org, we compare the effects of goal match (i.e., a lump-sum donation committed by the matcher conditional on the attainment of a pre-defined goal) and dynamic match (i.e., real-time matching at a constant rate for each individual donation transaction). After preprocessing our data with Coarsened Exact Matching (CEM) at a project level, we find that both match funding schemes increase total funds raised, but this gain is driven entirely by the matched funds themselves rather than any increase in crowd pledges or participation. We also show that the effects of match funding are heterogeneous across Sustainable Development Goals (SDGs): goal matching (but not dynamic matching) helps the performance of ecological projects but dampens the performance of democratic projects, as compared to social projects. These results highlight the stage-contingent and context-dependent nature of match funding, offering insights for the design of more effective crowdfunding strategies.

GUEST BIO:

Haoyan Sun is an Associate Professor at Lehigh University College of Business. Her research investigates the important domain of the economics of information systems. She applies empirical methods to study the problems related to the effect of emerging technologies on user behavior, business strategy, and digital platforms. Her work was published in top tier journals such as Information Systems Research and Production and Operations Management. She received her Ph.D. in Information Systems from the Forster School of Business at the University of Washington.