We employ a sharp regression discontinuity design to identify the causal effects of investor base disclosure on funding success and post-funding outcomes. Starting from February 2016, Kickstarter discloses backer statistics including geographic locations and previous funding experience of the...

We study the behavior of an individual avoiding peer information on charity giving. Manipulating how the peer donation information was revealed to potential donors in a field experiment, we find 89% of individuals were “information avoiders.” We further use an instrumental variable...