中文摘要：

对于强调＂新颖性＂和＂参与性＂的创意众筹项目而言,众筹发起人具有＂筹资金＂与＂筹资源＂的不同动机,而众筹参与人则可从中享有＂尝鲜价值＂或＂参与价值＂。为此将创意众筹刻画为一个两阶段动态博弈过程,并探讨了不同动机驱动下的异质性激励机制设计。研究发现：（1）基于＂尝鲜价值＂的信息甄别机制可激励消费者展示其类型,有利于发起人通过差别化定价实现资金收益最大化。（2）基于＂参与价值＂的收益分配机制可激励参与人形成利益共同体,便于发起人筹集各类资源将创意概念转化为创新产品。

英文摘要：

In the case of creative crowdfunding, whose emphasis are putting on ＂novelty＂ and ＂participatory＂, the entrepreneurs are motivated to raise funds or resources, at the same time, the participants could enjoy the benefits of being early adopters of new products or participating in innova- tion. In this study, we depicted the creative crowdfunding as a process of two-stage dynamic game and discussed the heterogeneous incentive mechanism derived by different motivations. Firstly, the infor- mation screening mechanism based on ＂the value of early access＂ could stimulate consumers to exhibit their preference type, which help the entrepreneurs maximize their benefits through price discrimina tion. Secondly, the benefits allocation mechanism based on ＂the value of participation＂ could prompt the formation of community of interests and facilitates the entrepreneurs to raise all kinds of re sources, which will then be utilized to turn creative ideas into creative products.