This seems like a headache for creators, though. A note on transaction costs — charging then refunding has a cost, you probably want to pass it to users explicitly, and this means that you should provide a very clear path both to get a refund and to move the refund into a different pool. Thanks for giving me stuff to research! What information do you reveal about pool size evolution? Some kind of reward system to incentivize longer bids? I think backers could be individually allowed to choose the duration of their bid, but that if so this must be set beforehand.
You have to reveal the pool size at least at some reasonable points in future according to current commitments , because for some things one-month commitments make sense, and for some things one-year commitments are too short — you should assume that only creators can distinguish such things, and then you have to give them information for such a decision. In your model users do not know the timeframe. Thanks for giving me stuff to research! What information do you reveal about pool size evolution? If nothing meets the spec in this timeframe, you get your money back. This seems like a headache for creators, though. Allowing backers to leave the pool freely would lead to tragedy of the commons type problems. Anything you can write a clear acceptance criteria for that one or more people want. Petro September 14, at Can commitment be extended? A note on transaction costs — charging then refunding has a cost, you probably want to pass it to users explicitly, and this means that you should provide a very clear path both to get a refund and to move the refund into a different pool. Would that have implementation challenges? I think backers could be individually allowed to choose the duration of their bid, but that if so this must be set beforehand. This can either lead to efforts spent on metagaming, or to general frustration, in arbitrary combinations. Definitely options to renew. For example, if one backer wanted a utility knife with certain functions, a second backer wanted one with similar but not identical functions, and a third backer felt that either of these projects would satisfy their need. The latter option, of course, is better for the user transaction-cost-wise. These days there seems to be at least one implementation of that idea—bountysource. Some kind of reward system to incentivize longer bids? Will it be precommitment to selected date? I was thinking about what would happen if proposals could be linked in some way such that users could allow an incentive pool or some part thereof to be offered to whoever finished any one of the related projects. Since this project was derived from research on existing crowdfunding platforms such as Kickstarter, I already had the sense that in principle nearly anything goes.
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