Analysis On The Evolutionary Game Of Crowdfunding Platforms And Entrepreneurs

Crowdfunding as a word is composed of crowd and funding,it means that someone receive some financing from the public.As the rapid development of Internet technology and the arrival of We-media era,crowdfunding has become an important means of financing and steps up into history stage.Crowdfunding has the characteristics of efficient,convenient and low threshold which conformances to the financing requirements of small and micro businesses.In recent years,crowdfunding caught its development high tide.Because crowdfunding is just in the development of the infant,there is not enough experience for the crowdfunding platforms to study.Lots of problems like imperfect business model,immature operation mechanism and lack of law regulation are appeared.The rate of crowdfunding items is low and many crowdfunding platforms have to stop their business.The platform is the core of crowdfunding,and entrepreneurs is the main source of platforms' profits.It is worthy to study a crowdfunding platform's operation pattern from the game relationship between crowdfunding platforms and entrepreneurs.In this dissertation,we collate and analysis the existing research,we find game relationships between the participants of crowdfunding and take the game relationship between crowdfunding platforms and entrepreneurs as research objects.Using evolutionary game theory analysis method,we build an evolutionary game model about the interaction between crowdfunding platforms and entrepreneurs.We analysis the influencing factors of evolutionary game by using replication mechanism of dynamic evolution model and numerical simulation.Research shows that:the financing demand of the project sponsor,the Internet and the raised platform charge service fees,the raised platform with high efficiency of Internet,the Internet the opportunity cost of the raised platform to provide good service and the level of supervision of the government to crowdfunding are the key factors influencing the game equilibrium.On the results of the study,we put forward some constructive suggestions about the crowdfunding platform operation.This study analysises the key factors which influence the crowdfunding platform operation by study the game relationship between crowdfunding platforms and entrepreneurs.It has made some innovations in the research topic and research methods,and broadened the research ideas of crowdfunding which creates a certain theoretical value.At the same time,this paper puts forward some constructive suggestions on how to operate the crowdfunding platform according to the research conclusion,and has certain guiding effect on the development of crowdfunding.