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Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis

Author

Listed:
  • Zhiyuan Yu

    (School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
    Department of Economics and Management, Taiyuan Institute of Technology, Taiyuan 030008, China)

  • Muhammad Hafeez

    (School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China)

  • Lihan Liu

    (School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China)

  • Muhammad Tariq Mahmood

    (Department of Commerce, Federal Urdu University of Arts, Science and Technology, Islamabad 44000, Pakistan)

  • Hong Wu

    (School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China)

Abstract

In the modern era, the minor coarse cereals (MCC) are particularly popular among consumers. Price fluctuations cause misperceptions for growers, but also bring about complications for processing enterprises and consumers. To solve this problem, a multi-grain product crowdfunding platform is proposed. To this end, an evolutionary game model is constructed to investigate the game equilibrium between growers and crowdfunders. The analysis determines that evolutionary game equilibrium is related to the relative price difference between the sowing period and the harvest period, and to the social/logistical cost. Under normal circumstances, the crowdfunder may default when the sowing-period price is greater than the harvest-period price. The grower may default if the sowing-period price is less than the harvest-period price. Therefore, in the design of a crowdfunding system for MCC products, a certain percentage of advance payment (30%) and certain default deposits should be collected from crowdfunders and growers, respectively.

Suggested Citation

  • Zhiyuan Yu & Muhammad Hafeez & Lihan Liu & Muhammad Tariq Mahmood & Hong Wu, 2019. "Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis," Sustainability, MDPI, vol. 11(5), pages 1-17, March.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:5:p:1299-:d:210263
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    References listed on IDEAS

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    Cited by:

    1. Agnieszka Szewczyk & Zbigniew Stempnakowski, 2021. "Social Energy as the Driving Force behind Crowdfunding—Analysis and Classification of Selected Attributes," Energies, MDPI, vol. 14(19), pages 1-32, September.
    2. Haotong Jiang & Liuyang Yao & Xueru Bai & Hua Li, 2023. "Dynamic Analysis and Simulation of the Feasibility and Stability of Innovative Carbon Emission Reduction Projects Entering the Carbon-Trading Market," Sustainability, MDPI, vol. 15(8), pages 1-19, April.
    3. Yuwei Yan & Xiaomeng Ma & Yi Song & Ajay Kumar & Ruixian Yang, 2023. "Exploring the interaction and choice behavior of organization and individuals in the crowd logistics," Annals of Operations Research, Springer, vol. 320(2), pages 1021-1040, January.
    4. Nafisa Mahbub & Anh Le & Jun Zhuang, 2022. "Online crowd-funding strategy: a game-theoretical approach to a Kickstarter case study," Annals of Operations Research, Springer, vol. 315(2), pages 1019-1036, August.

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