Modeling menu bundle designs of crowdfunding projects

Yusan Lin, Peifeng Yin, Wang Chien Lee

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

Abstract

Offering products in the forms of menu bundles is a common practice in marketing to attract customers and maximize revenues. In crowdfunding platforms such as Kickstarter, rewards also play an important part in influencing project success. Designing rewards consisting of the appropriate items is a challenging yet crucial task for the project creators. However, prior research has not considered the strategies project creators take to offer and bundle the rewards, making it hard to study the impact of reward designs on project success. In this paper, we raise a novel research question: understanding project creators' decisions of reward designs to level their chance to succeed. We approach this by modeling the design behavior of project creators, and identifying the behaviors that lead to project success. We propose a probabilistic generative model, Menu-Offering-Bundle (MOB) model, to capture the offering and bundling decisions of project creators based on collected data of 14K crowdfunding projects and their 149K reward bundles across a half-year period. Our proposed model is shown to capture the offering and bundling topics, outperform the baselines in predicting reward designs.We also find that the learned offering and bundling topics carry distinguishable meanings and provide insights of key factors on project success.

Original languageEnglish (US)
Title of host publicationCIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management
PublisherAssociation for Computing Machinery
Pages1079-1088
Number of pages10
ISBN (Electronic)9781450349185
DOIs
StatePublished - Nov 6 2017
Event26th ACM International Conference on Information and Knowledge Management, CIKM 2017 - Singapore, Singapore
Duration: Nov 6 2017Nov 10 2017

Publication series

NameInternational Conference on Information and Knowledge Management, Proceedings
VolumePart F131841

Other

Other26th ACM International Conference on Information and Knowledge Management, CIKM 2017
CountrySingapore
CitySingapore
Period11/6/1711/10/17

Fingerprint

Menu
Modeling
Reward
Project success
Bundling
Probabilistic model
Marketing
Revenue
Factors

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Decision Sciences(all)

Cite this

Lin, Y., Yin, P., & Lee, W. C. (2017). Modeling menu bundle designs of crowdfunding projects. In CIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management (pp. 1079-1088). (International Conference on Information and Knowledge Management, Proceedings; Vol. Part F131841). Association for Computing Machinery. https://doi.org/10.1145/3132847.3132958
Lin, Yusan ; Yin, Peifeng ; Lee, Wang Chien. / Modeling menu bundle designs of crowdfunding projects. CIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management. Association for Computing Machinery, 2017. pp. 1079-1088 (International Conference on Information and Knowledge Management, Proceedings).
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Lin, Y, Yin, P & Lee, WC 2017, Modeling menu bundle designs of crowdfunding projects. in CIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management. International Conference on Information and Knowledge Management, Proceedings, vol. Part F131841, Association for Computing Machinery, pp. 1079-1088, 26th ACM International Conference on Information and Knowledge Management, CIKM 2017, Singapore, Singapore, 11/6/17. https://doi.org/10.1145/3132847.3132958

Modeling menu bundle designs of crowdfunding projects. / Lin, Yusan; Yin, Peifeng; Lee, Wang Chien.

CIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management. Association for Computing Machinery, 2017. p. 1079-1088 (International Conference on Information and Knowledge Management, Proceedings; Vol. Part F131841).

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

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Lin Y, Yin P, Lee WC. Modeling menu bundle designs of crowdfunding projects. In CIKM 2017 - Proceedings of the 2017 ACM Conference on Information and Knowledge Management. Association for Computing Machinery. 2017. p. 1079-1088. (International Conference on Information and Knowledge Management, Proceedings). https://doi.org/10.1145/3132847.3132958