Post-crowdfunding in reward-based crowdfunding with strategic purchasing consideration

The post-crowdfunding refers to the sale of products “very successful” in reward-based crowdfunding after the backers have been rewarded. It offers an opportunity for the creators to exploit the remaining untapped profit after the crowdfunding period. The post-crowdfunding includes the resale and normal sale stage, which involves the creators' various policies under the capital constraint based on the raised fund; however, this crowdfunding program receives little attention in academic. To this end, this paper constructs a two-stage model to examine the resale policy of crowdfunding product, in which the consumers' strategic purchasing behavior is also considered. Backward induction and a genetic algorithm are employed to obtain the optimal pricing decisions. Besides, numerical studies are also conducted to derive some managerial insights.