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Perceived Risk: Further Considerations for the Marketing Discipline
Abstract
Examines the construct of perceived risk, as used in consumer and marketing research. In the light of the shortcomings of past research, develops and tests three hypotheses. Findings show that the risk dimensions proposed in the literature (i.e. financial, psychological, social, performance, physical and time‐related risk) capture a very high fraction of perceived overall risk, and that a parsimonious structure of the risk concept exists as the other risk dimensions are mediated through individual psychological risk. Implications are highlighted.
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“Perceived risk is seen as a subjective expectation of the losses; it is also a form of expectation [97].”
From Investigating the Impact of Critical Factors on Continuance Intention towards Cross-Border Shopping Websites (2019) · cites this paper as [97]
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“6.2 Research instruments / measures Prior construct measures from perceived risk (i.e., Stone and Grønhaug 1993), ROCI-II (Rahim 1983), relationship conflict (Reid et al. 2004), and group atmosphere (Jehn and Mannix 2001) were collected and subsequently formed the basis of the different sales…”
BackgroundInfluentialYuan, W., Shu, Y., Yi-feng, X., et al. (2009) · International Conference on Mobile Business · doi:10.1109/icmb.2009.52 · Cited by 3
“The measurement scale of perceived privacy risk was derived from[36].”
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“Stone and Gronhaug (1993) point out that the accumulated interpretability of the financial, functional, physical, psychological, social and time risk to the overall risk of perceived is up to 88.8% [4].”
BackgroundInfluentialThe Perception Risk Instrument (PRI)
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“Stone and Gronhaug (1993) reported that different people perceive risk in different ways and Koenig-Lewis et al. (2015) found that perceived risk may be reduced by social influence and perceived enjoyment.”
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BackgroundGrunert, K. G., Haas, R., Imami, D., & Miftari, I. (2020) · Q Open · doi:10.1093/qopen/qoaa006 · Cited by 3
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“These scales were subsequently modified and adjusted in accordance with the methodologies employed by Ang, et al. [11], Bearden, et al. [45], Eastman, et al. [46], Lichtenstein, et al. [47], Nia and Lynne Zaichkowsky [48], Stone and Grønhaug [49], Sweeney, et al. [50], and Wang, et al. [51].”
MethodÖzoğlu, B., & Bülbül, H. (2013) · DergiPark (Istanbul University) · Cited by 3
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Lin, C. (2007) · Portland International Conference on Management of Engineering and Technology (PICMET) · doi:10.1109/picmet.2007.4349507 · Cited by 5
“Risk is defined as the subjective expectation of a loss [47], and is the consumer's perception of the uncertainty and concomitant negative consequences of buying a product [14].”
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“[37] R.”
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Hor-Meyll, L. F., & Motta, P. C. (2008) · Latin American Business Review · doi:10.1080/10978520802189344 · Cited by 3
“Perceived risk can thus be defined as an expectation of loss associated with purchasing a product or a service (Peter and Ryan, 1976 ; Stone and Gronhaug, 1993 ) and as such it acts as an inhibitor to purchase behavior.”
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Brown, B. P. (2022) · doi:10.57709/1059031 · Cited by 3
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“Stone and Gronhaug (1993) pointed out that the financial, functional, physical, psychological, social and time risks have 88.8% interpreting ability of the overall perceived risk [12].”
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Chang, L.-C., & Zelihic, M. (2013) · Cited by 3
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Skard, S., Nysveen, H., & Thorbjørnsen, H. (2017) · e-Service Journal · doi:10.2979/eservicej.10.1.01 · Cited by 4
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“To add to the complexity, adoption barriers are not free of overlaps [22].”
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“The physical and functional risk measures are adapted from Stone and Grønhaug (1993). Functional risk denotes the possibility that the product will not achieve its intended function.”
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“We have focused extensively on the perceived advantages (Turner, 2007) and risks (Stone & Grønhaug, 1993):(Featherman & Pavlou, 2003):(Jun, 2020) in this study as potential factors associated with the deployment of biometric security Rogers (Turner, 2007) claimed that the perceived advantages could…”
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Metadata
- Authors
- Stone, R. N., & Grønhaug, K.
- Venue
- European Journal of Marketing
- Publisher
- Emerald
- Published
- 1993-04-01
- Volume
- 27
- Issue
- 3
- Pages
- 39-50
- ISSN
- 0309-0566 (ISSN-L)
- OpenAlex
- W2062541363
- Cited by
- 1,348
- References
- 0
- Citations by year
- 2026: 71 · 2025: 53 · 2024: 66 · 2023: 77 · 2022: 100 · 2021: 74 · 2020: 94 · 2019: 76 · 2018: 56 · 2017: 64 · 2016: 62 · 2015: 73 · 2014: 78 · 2013: 45 · 2012: 45
- FWCI
- 4.28
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- European Journal of Marketing (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Behavior and Marketing Influence
- Social Sciences › Business, Management and Accounting › Marketing › Customer Service Quality and Loyalty
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Keywords
- risk perception, risk dimensions, psychological risk, financial risk, social risk, performance risk, physical risk, risk structure, consumer behavior
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