工业工程

工业工程 ›› 2022, Vol. 25 ›› Issue (5): 65-72.doi: 10.3969/j.issn.1007-7375.2022.05.008

• 专题论述 • 上一篇    下一篇

考虑模仿竞争的奖励型众筹合同设计

纪颖1, 祝剑利2, 屈绍建3   

  1. 1. 上海大学 管理学院，上海 200444;
    2. 上海理工大学 管理学院，上海 200093;
    3. 南京信息工程大学管理工程学院，江苏 南京 210044
  • 收稿日期:2021-04-15 发布日期:2022-10-20
  • 作者简介:纪颖(1981—)，女，吉林省人，教授，博士，主要研究方向为运筹与管理、决策科学等
  • 基金资助:
    国家自然科学基金资助项目(72171123, 72171149)；上海市社会科学基金资助项目(2020GBL010)

A Design of Reward-Based Crowdfunding Contract Considering Imitative Competition

JI Ying1, ZHU Jianli2, QU Shaojian3   

  1. 1. Business School, Shanghai University, Shanghai 200444, China;
    2. Business School, University of Shanghai for Science and Technology, Shanghai 200093, China;
    3. School of Management Science and Engineering, Nanjing University of Information Science and Technology, Nanjing 210044, China
  • Received:2021-04-15 Published:2022-10-20

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摘要： 传统融资渠道的堵塞迫使许多初创企业将目光转向大众，希望通过众筹来获得初始投资。然而，企业在众筹平台公布项目信息加剧了产品被模仿的风险。为此，本文研究企业众筹合同的可行性和优化设计以减少模仿竞争带来的损失，即在众筹导致的传统产品市场扭曲与外部模仿竞争之间取得平衡。分析表明，本文的众筹合同可以使原本资金短缺的项目得以执行，并强调外部模仿竞争与企业产品定价、融资目标及利润之间的新互动。更激烈的模仿竞争降低了众筹企业提取盈余的能力，而企业也将制定相应的众筹合同以应对模仿竞争。本文为模仿竞争情形下的众筹项目顺利开展提供一定理论意见和实践参考。

关键词: 众筹, 合同, 产品定价, 模仿竞争

Abstract: The blockage of traditional financing channels forces many start-ups to turn their attention to the public, hoping to obtain initial investment through crowdfunding. However, the project information released by enterprises on crowdfunding platform aggravates the risk of product being imitated. Therefore, the feasibility and optimization design of crowdfunding contract are studied in order to reduce the loss caused by imitation competition, that is, to strike a balance between traditional product market distortion caused by crowdfunding and external imitation competition. The analysis shows that such crowdfunding contracts can enable otherwise underfunded projects to be executed, and highlight the new interaction between external imitation competition and corporate product pricing, financing goals, and profits. More intense imitation competition reduces the ability of crowd-funding enterprises to extract earnings, and enterprises will formulate corresponding crowd-funding contracts to deal with imitation competition. Some theoretical advice and practical reference are provided for the development of crowdfunding projects in imitative competition.

Key words: crowdfunding, contracts, product pricing, imitation competition

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