Refund bonuses and revenue equivalence
研究了在不完全信息框架下，退款奖金对众筹项目开发者预期收入无影响，从而凸显该方案的实用性。
Refund bonuses are a practical solution to the implementation problem of crowdfunding. This paper shows in a framework with imperfect information that refund bonuses have no implications for the project developer’s expected revenue, thus, underscoring the practicality of this solution.