Ma Guoshun, Yan Chengwen
In recent years, China's Internet crowd-funding industry has been booming, The frequent occurrence of dereliction of responsibility and violation of regulations of Internet crowd-funding platforms and malicious investment by investors has brought investment and financing risks to investors and crowd-funding platforms and affected the development of the industry. In view of many problems in the crowd funding industry, this paper uses the analytical method of evolutionary game theory to construct a three-party game model of local government, crowd funding platform and sponsors, and analyzes the evolution process of the strategic choice of each stakeholder by replication dynamic equation analysis and numerical simulation. The results show that the initial strategy choice of each game subject affects the evolution speed of the system game. The social benefits under strict government supervision, the punishment of the platform irresponsible operation and the sponsors fraudulent financing, and the supervision of the platform to the sponsors are the key factors affecting the choice of three-party strategy in the game.
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