Beyond Financial Motivations in Crowdfunding: A Systematic Literature Review of Donations and Rewards

  • Inés AlegreEmail author
  • Melina Moleskis
Research Papers


This study presents an interdisciplinary systematic review of the literature on donation-based and reward-based crowdfunding. The literature to date has explored differences in crowd’s behavior and incentives for participating in the platform, as well as the factors governing funding and post-funding success. The authors summarize the main findings to date and synthesize the different theoretical explanations for the decision-making behavior of the crowd. The investigation reveals how the literature to date has upheld the importance of crowdfunding as a social and democratic tool, one that demonstrates wise judgment and clairvoyance in recognizing potential successes and creating value for society.


Crowdfunding Rewards Donations Decision-making Literature review 


Compliance with Ethical Standards

Conflict of interest

The authors declare that they have no conflict of interest.


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© International Society for Third-Sector Research 2019

Authors and Affiliations

  1. 1.IESE Business SchoolUniversidad de NavarraBarcelonaSpain

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