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The Star Citizen Phenomenon & the “Ultimate Dream Management” Technique in Crowdfunding

Author

Listed:
  • Ahrens, Jan-Philipp
  • Isaak, Andrew
  • Istipliler, Baris
  • Steininger, Dennis M.

Abstract

Developing and keeping a community motivated is critical for success, particularly in self-hosted crowdfunding. Existing research has identified social capital as an important driver of such endeavors. However, the process of how social capital can be developed, managed, and targeted towards a common goal in digital settings is mostly unknown. Applying social exchange theory and a mixed-methods approach, we leverage a large dataset of one of the world’s most-funded crowdfunding projects – Star Citizen – to zoom in on the process of social capital development as a success factor. We depict how repeated social exchange and reciprocity norms foster the emergence of a cohesive and supportive community from a crowd of strangers. Moreover, we explain how this is used by Start Citizen within five themes of a novel and IS-enabled managerial technique focusing on dreams. Our insights generalize to contexts beyond crowdfunding that require the engagement of crowds for joint value creation.

Suggested Citation

  • Ahrens, Jan-Philipp & Isaak, Andrew & Istipliler, Baris & Steininger, Dennis M., 2019. "The Star Citizen Phenomenon & the “Ultimate Dream Management” Technique in Crowdfunding," EconStor Conference Papers 338892, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esconf:338892
    Note: Shared first authorship with Jan-Philipp Ahrens
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    Keywords

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    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • M15 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - IT Management
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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