Perceived Risk: A Synthesis

Abstract

Discusses a conceptual framework of perceived risk consolidating and interrelating the numerous theories and research results. Adumbrates the measurement of perceived risk, consumer risk handling, risk reduction methods and consumer preference for risk reduction methods. Posits that although the area of consumer behaviour as a risk‐taking function has been extensively researched since 1960, there are many aspects needing further investigations. States that research into levels of risk between different product classes is necessary. Sums up that the concept of perceived risk may have been extensively investigated, considerable opportunity exists for further refinement and meaningful study.