A friend of mine is using a site called Indiegogo.com to help him raise money to make an album. You set a goal amount you'd like to raise and then tell all your friends and friends of friends about your project and hopefully they contribute and you raise the money you need (Kickstarter.com is another service like this).
Apparently the rules on the site are that if you reach your goal, Indiegogo takes 4% of the amount you raised. If you fail to reach your goal, then they take 9% of whatever you raised. I think the idea behind this is in part to get you to set a realistic goal. If you say you're going to raise $100,000 even though you know you won't get that much, Indiegogo will take more of your money than if you set a more realistic goal like, say $10,000. Apart from obvious connections to goal setting theory, are there any other connections here? Is Indiegogo trying to motivate me to raise money by punishing me if I don't raise much at all? "If I put in a lot of effort to raise money I'll be rewarded (by the money of course), but I'll also avoid a punishment (the 9% I'll have to pay Indiegogo)" Hmm.... Michael A. Britt, Ph.D. [email protected] http://www.ThePsychFiles.com Twitter: @mbritt --- You are currently subscribed to tips as: [email protected]. To unsubscribe click here: http://fsulist.frostburg.edu/u?id=13090.68da6e6e5325aa33287ff385b70df5d5&n=T&l=tips&o=27257 or send a blank email to leave-27257-13090.68da6e6e5325aa33287ff385b70df...@fsulist.frostburg.edu
