Crowdfunding is a new and popular way of funding innovative products. Despite numerous advantages, there are challenges to this model, chief among them credibly signaling information about product quality to a pool of small, uninformed investors. We explore how an entrepreneur might accomplish...

In rewards-based crowdfunding, entrepreneurs solicit donations from a population of potential contributors. If total donations exceed a prespecified funding target, the entrepreneur distributes non-monetary rewards to contributors; otherwise, their donations are refunded. We study how to design...