Triadic Social Structure Facilitates Backing for Crowdfunding Projects

Yutaka Nakai, Hiroki Takikawa

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Crowdfunding is a new funding method through which founders request small amounts of funding from a large number of people through an online platform. Crowdfunding facilitates a new type of social capital and exhibits a unique form of social dynamics, thus attracting the interest of sociologists and other social scientists. Previous studies have focused on social relationships in crowdfunding such as direct reciprocity and consider how they contribute to the success of funding. The social structure of crowdfunding, however, involves more complex social relationships and it may contribute to the success of a new venture or project in many ways. In this study, we focus on a specific type of triadic social structure, the buddy relation, which can be described as a relationship through which project founder x, who previously backed another founder z's project, receives financial backing from the other backers of z's project. We found that the buddy relation occurs significantly more often than randomly, concluding that this structure facilitates the gathering of financial backing and may contribute to the success of a crowdfunded project.

Original languageEnglish
Title of host publicationProceedings - 2018 IEEE International Conference on Big Data, Big Data 2018
EditorsYang Song, Bing Liu, Kisung Lee, Naoki Abe, Calton Pu, Mu Qiao, Nesreen Ahmed, Donald Kossmann, Jeffrey Saltz, Jiliang Tang, Jingrui He, Huan Liu, Xiaohua Hu
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages4346-4351
Number of pages6
ISBN (Electronic)9781538650356
DOIs
Publication statusPublished - 2019 Jan 22
Event2018 IEEE International Conference on Big Data, Big Data 2018 - Seattle, United States
Duration: 2018 Dec 102018 Dec 13

Publication series

NameProceedings - 2018 IEEE International Conference on Big Data, Big Data 2018

Conference

Conference2018 IEEE International Conference on Big Data, Big Data 2018
CountryUnited States
CitySeattle
Period18/12/1018/12/13

Keywords

  • focal closure
  • Monte Carlo simulation
  • social network
  • triadic closure

ASJC Scopus subject areas

  • Computer Science Applications
  • Information Systems

Cite this

Nakai, Y., & Takikawa, H. (2019). Triadic Social Structure Facilitates Backing for Crowdfunding Projects. In Y. Song, B. Liu, K. Lee, N. Abe, C. Pu, M. Qiao, N. Ahmed, D. Kossmann, J. Saltz, J. Tang, J. He, H. Liu, ... X. Hu (Eds.), Proceedings - 2018 IEEE International Conference on Big Data, Big Data 2018 (pp. 4346-4351). [8621987] (Proceedings - 2018 IEEE International Conference on Big Data, Big Data 2018). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/BigData.2018.8621987