Premium
A path analysis interpretation of consumer decision‐making under conditions of potential risk
Author(s) -
JACKSON HAZEL O.,
NOEL CHARLES J.
Publication year - 1991
Publication title -
journal of consumer studies and home economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.775
H-Index - 71
eISSN - 1470-6431
pISSN - 0309-3891
DOI - 10.1111/j.1470-6431.1991.tb00653.x
Subject(s) - clothing , feeling , interpretation (philosophy) , hazard , psychology , risk perception , control (management) , actuarial science , marketing , social psychology , business , economics , computer science , perception , chemistry , management , archaeology , organic chemistry , neuroscience , history , programming language
This study investigates consumer decision‐making processes under conditions of potential risk to personal safety. Potential risk was defined as the individual's subjective interpretation of the likelihood of exposure to hazard or danger and their estimation of the consequences of such exposure. The main concerns were to determine under what conditions consumers would choose a flame resistant apparel item over a non‐flame resistant apparel item and to discover the amount of money consumers were willing to pay for the flame resistant (FR) characteristic in apparel. A model of the expected decision process was developed. The variables in the model were (i) internal/external (I/E) control (x 1 ), (ii) awareness of flame‐resistant facts (x 2 ), (iii) perceived risk (x 3 ), (iv) buying goals (x 4 ), and (v) willingness to pay for the FR characteristic. Data used to test the hypothesized relationships among the variables were collected from 136 mothers of pre‐school‐age children. Path analysis interpretations revealed that the following were the most salient variables affecting the consumer's willingness to pay: (i) perceived risk of clothing‐burn injuries; (ii) consumer's feelings of I/E control; and (iii) FR safety as a buying goal.