Hornuf, Lars
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Hornuf, Lars
Official Name
Hornuf, Lars
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hornuf@uni-bremen.de
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11 Ergebnisse
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Item-typ:Veröffentlichung, Hourly Wages in Crowdworking: A Meta-Analysis(2022-01-24); In the past decade, crowdworking on online labor market platforms has become the main source of income for a growing number of people worldwide. This development has led to increasing political and scientific interest in the wages that people can earn on such platforms. In this article, we extend the literature based on a single platform, region, or category of crowdworking by conducting a meta-analysis of the prevalent hourly wages. After a systematic and rigorous literature search, we consider 20 primary empirical studies, including 104 wages and 76,282 data points from 22 platforms, eight different countries, and a time span of 12 years. We find that, on average, microwork results in an hourly wage of less than $6. This wage is significantly lower than the mean wage of online freelancers, which is roughly three times higher. We find that hourly wages accounting for unpaid work, such as searching for tasks and communicating with requesters, tend to be significantly lower than wages not considering unpaid work. Legislators and researchers evaluating wages in crowdworking should be aware of this bias when assessing hourly wages, given that the majority of the literature does not account for the effect of unpaid work time on crowdworking wages. To foster the comparability of different research results, we suggest that scholars consider a wage malus to account for unpaid work. Finally, we find that hourly wages collected through surveys tend to be lower than wages collected via browser plugins or other technical data collection methods.BerichtBand:0007341 591 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, The impact of fintech startups on financial institutions’ performance and default risk(2021-04-24); We study the impact fintech startups have on the performance and the default risk of traditional financial institutions. We find a positive relationship between fintech startup formations and incumbent institutions’ performance for the period from 2005 to 2018 and a large sample of financial institutions from 87 countries. We further analyze the link between fintech startup formations and the default risk of traditional financial institutions. Fintech startup formations decreases stock return volatility of incumbent institutions and decreases the systemic risk exposure of financial institutions. Our findings indicate that the development of fintech startups should be monitored very closely by legislators and financial supervisory authorities, because fintechs not only have a positive effect on the financial sector’s performance, but can also improve financial stability relative to the status quo.BerichtBand:0004446 1799 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Digital Dark Nudges(2022-03-23); Manipulative product and interface designs known as digital “dark nudges” have become a common phenomenon in the digital economy. This chapter investigates the behavioral science background and the main problem areas of such unethical online business practices. We also show the limits of the existing statutory framework for combating digital dark nudges. The chapter concludes by discussing potential private and statutory remedies to address dark nudges in the digital economy.BerichtBand:0012494 835 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Do retail investors value environmental impact? A lab-in-the-field experiment with crowdfunders(2021-07-14); Are investors willing to give up a higher return if the investment generates positive environmental impact? We investigate this question with a decision experiment among crowdfunders, where they choose between a higher return or environmental impact. Overall, 65% of investors choose environmental impact at the expense of a higher return for sufficiently large impact, 14% choose impact independent of the magnitude of impact, while 21% choose the higher return independent of impact. Combining the experimental data with historical investments, we find that investors allocate a larger share of funds to green projects if they value environmental impact more, and if they expect green projects to be more profitable. These findings suggest that investors have a preference for positive environmental impact, and satisfy it by investing in green projects. We further show that the preference for environmental impact is distinct from a preference for positive social impact. Finally, we introduce new survey measures of impact for future use, which are experimentally validated and predict field behavior.BerichtBand:0005309 572 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Initial Coin Offerings, Information Disclosure, and Fraud(2020-10); ; We study the extent of fraud in initial coin offerings (ICOs), and whether information disclosure prior to the issuance predicts fraud. We document different types of fraud, and that fraudulent ICOs are on average much larger than the sample average. Issuers that disclose their code on GitHub are more likely to be targeted by phishing and hacker activities, which suggests that there are risks related to disclosing the code. Generally, we find it extremely difficult to predict fraud with the information available at the time of issuance. This calls for the need to install a third-party that certifies the quality of the issuers, such as specialized platforms, or the engagement of institutional investors and venture capital funds that can perform a due diligence and thus verify the quality of the project.BerichtBand:0001456 621 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, The Social dilemma of Big Data: donating personal data to promote social welfare(2021-03); When using digital devices and services, individuals provide their personal data to organizations in exchange for gains in various domains of life. Organizations use these data to run technologies such as smart assistants, augmented reality, and robotics. Most often, these organizations seek to make a profit. Individuals can, however, also provide personal data to public databases that enable nonprofit organizations to promote social welfare if sufficient data are contributed. Regulators have therefore called for efficient ways to help the public collectively benefit from its own data. By implementing an online experiment among 1,696 US citizens, we find that individuals would donate their data even when at risk of getting leaked. The willingness to provide personal data depends on the risk level of a data leak but not on a realistic impact of the data on social welfare. Individuals are less willing to donate their data to the private industry than to academia or the government. Finally, individuals are not sensitive to whether the data are processed by a human-supervised or a self-learning smart assistant.BerichtBand:0002410 1291 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Lock-In Effects in Online Labor Markets(2021-10-18); ; This article reports on an investigation of the role of lock-in exploitation and the impact of reputation portability on workers’ switching behaviors in online labor markets. Online platforms using reputation mechanisms typically prevent users from transferring their ratings to other platforms, inducing lock-in effects and high switching costs and leaving users vulnerable to platform exploitation. With a theoretical model, in which workers in online labor markets are locked-in by their reputational data, we test the effects using an online lab-in-the-field decision experiment. In addition to comparing a policy regime with and without reputation portability, we vary lock-in exploitation using platform fees to consider how switching behavior might differ according to monetary motives and fairness preferences. Theoretically, this study reveals how reputational investments can produce switching costs that platforms can exploit. Experimentally, the results suggest that reputation portability mitigates lock-in effects, making users less susceptible to lock-in exploitation. The data further show that switching is driven primarily by monetary motives, but perceiving the fee as unfair also has a significant role.BerichtBand:0006267 505 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Protecting Investors in Equity Crowdfunding: An Empirical Analysis of the Small Investor Protection Act(2020-05-27); ; During the past decade, equity crowdfunding (ECF) has emerged as an alternative funding channel for startup firms. In Germany, the Small Investor Protection Act became binding in July 2015, with the legislative goal to protect investors engaging in this new asset class. Since then, investors pledging more than 1,000 EUR now must self-report their income and wealth. Investing more than 10,000 EUR in a single ECF issuer is only possible through a corporate entity. We examine how the Small Investor Protection Act has affected investor behavior at Companisto, Germany’s largest ECF portal for startup firms. The results show that after the new law became binding, sophisticated investors invest less on average while casual investors invest more. Moreover, the signaling capacity of large investments has disappeared.Wissenschaftlicher Artikel306 274 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, Are Sustainability-Oriented Investors Different? Evidence from Equity Crowdfunding(2020-05-26); ; In this article, we examine how investor motives affect investment behavior in equity crowdfunding. In particular, we compare the investment behavior of sustainability-oriented with ordinary crowd investors on six leading equity crowdfunding platforms in Austria and Germany and investigate whether they suffer from a default shock that was recently identified by Dorfleitner et al. (2019). In general, we find evidence of a default shock in equity crowdfunding that occurs immediately after the event or if investors experience more than two insolvencies. Moreover, we find that sustainability-oriented investors pledge larger amounts of money and invest in more campaigns than ordinary crowd investors. The results also suggest that sustainability-oriented crowd investors care about non-financial returns, as they react more sensitively after experiencing a default in their equity crowdfunding portfolios, which indicates that they suffer beyond the pure financial loss. These findings contribute to recent literature on equity crowdfunding, socially responsible investing, and how individual investment motives and personal experiences affect investment decisions.Wissenschaftlicher Artikel353 423 - Some of the metrics are blocked by yourconsent settings
Item-typ:Veröffentlichung, How community managers affect online idea crowdsourcing activities(2020-05-11); In this study, we investigate whether and to what extent community managers in online collaborative communities can stimulate crowd activities through their engagement. Using a novel data set of 22 large online idea crowdsourcing campaigns, we find that active engagement of community managers positively affects crowd activities in an inverted U-shaped manner. Moreover, we evidence that intellectual stimulation by managers increases community participation, while individual consideration of users has no impact on user activities. Finally, the data reveal that community manager activities that require more effort, such as media file uploads instead of simple written comments, have a larger effect on crowd participation.BerichtBand:0003240 406