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The Wisdom of the Crowd When Acquiring Information Is Costly

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We consider a sequential investment process that is characteristic of crowdfunding platforms, among other contexts. Investors wish to avoid the cost of information acquisition and thus prefer to re... Click to show full abstract

We consider a sequential investment process that is characteristic of crowdfunding platforms, among other contexts. Investors wish to avoid the cost of information acquisition and thus prefer to re...

Keywords: information; acquiring information; wisdom crowd; information costly; crowd acquiring

Journal Title: Management Science
Year Published: 2021

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