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Consumer Vulnerability to Fraud: Influencing Factors
Author(s) -
LEE JINKOOK,
SOBERONFERRER HORACIO
Publication year - 1997
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.1997.tb00827.x
Subject(s) - vulnerability (computing) , spouse , business , logit , marketing , consumer behaviour , logistic regression , economics , sociology , computer security , computer science , anthropology , medicine , econometrics
Using the 1993 Survey of Older Consumer Behavior commissioned by the American Association of Retired Persons, consumer vulnerability to market fraud was investigated. Consumer vulnerability was determined based on consumers' market knowledge and awareness of unfair business practices. Using an ordered logit analysis, it was found that consumers were more susceptible to fraud if they were older, poor, less educated, and/or living without spouse. Neither gender nor race was found to be a significant predictor of consumer vulnerability. Implications for consumer educators and policy makers were drawn.