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Open AccessArticle

Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis

1
School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
2
Department of Economics and Management, Taiyuan Institute of Technology, Taiyuan 030008, China
3
Department of Commerce, Federal Urdu University of Arts, Science and Technology, Islamabad 44000, Pakistan
*
Author to whom correspondence should be addressed.
Sustainability 2019, 11(5), 1299; https://doi.org/10.3390/su11051299
Received: 13 January 2019 / Revised: 7 February 2019 / Accepted: 27 February 2019 / Published: 1 March 2019
In the modern era, the minor coarse cereals (MCC) are particularly popular among consumers. Price fluctuations cause misperceptions for growers, but also bring about complications for processing enterprises and consumers. To solve this problem, a multi-grain product crowdfunding platform is proposed. To this end, an evolutionary game model is constructed to investigate the game equilibrium between growers and crowdfunders. The analysis determines that evolutionary game equilibrium is related to the relative price difference between the sowing period and the harvest period, and to the social/logistical cost. Under normal circumstances, the crowdfunder may default when the sowing-period price is greater than the harvest-period price. The grower may default if the sowing-period price is less than the harvest-period price. Therefore, in the design of a crowdfunding system for MCC products, a certain percentage of advance payment (30%) and certain default deposits should be collected from crowdfunders and growers, respectively. View Full-Text
Keywords: minor coarse cereals (MCC); product crowdfunding; evolutionary game theory; system design of crowdfunding platform minor coarse cereals (MCC); product crowdfunding; evolutionary game theory; system design of crowdfunding platform
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MDPI and ACS Style

Yu, Z.; Hafeez, M.; Liu, L.; Mahmood, M.T.; Wu, H. Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis. Sustainability 2019, 11, 1299. https://doi.org/10.3390/su11051299

AMA Style

Yu Z, Hafeez M, Liu L, Mahmood MT, Wu H. Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis. Sustainability. 2019; 11(5):1299. https://doi.org/10.3390/su11051299

Chicago/Turabian Style

Yu, Zhiyuan; Hafeez, Muhammad; Liu, Lihan; Mahmood, Muhammad T.; Wu, Hong. 2019. "Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis" Sustainability 11, no. 5: 1299. https://doi.org/10.3390/su11051299

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