On 10th December 2024, the Faculty of Finance at the City University of Macau organized the sixth Academic Salon at the Taipa campus. This academic salon invited Assistant Professor Michele Fabi from Télécom Paris, France. He presented his research paper titled “A Theory of Crowdfunding Dynamics”. This paper develops a dynamic model of crowdfunding to characterize success rates and welfare and to identify optimal transparency and design policies. This paper also characterizes average bidding profiles. The authors also investigate the tradeoff between raising prices and thresholds and demonstrate success and welfare gains from the indirect dynamic pricing permitted by current platforms.

Dr. Fabi is an assistant professor of Department of Economics and Social Sciences, Télécom Paris. His research interests include financial platforms, decentralized finance, blockchain, and the digitalization of money and the market.

During this Academic Salon, Dr. Fabi shared his latest research results with the Faculty of Finance, broadening the research horizons of the Faculty of Finance. The Academic Salon organized by the Faculty of Finance at City University of Macau serves as a platform for exchanging academic ideas and fostering academic awareness. With finance as the main focus, we invite scholars/experts from academia and the financial industry to engage in research discussions on cutting-edge topics and share industry development trends, aiming to provide a fresh academic experience and thinking model for CityU students and faculty members. Through activities like the Academic Salon, we hope to offer graduate students a better academic platform, encouraging further exploration and research on academic issues.