Factors Affecting Consumer Risk Reduction: A Review of Current Evidence

Abstract

In this paper, the main objective will be to discuss the factors which can influence the usage of risk reducing strategies found in the literature over the past 30 years. Some of the factors which have relatively consistent effects include age, socio-economic group, education while other factors show complex effect e.g. self-confidence, loss-type and product risk. On the whole, the literature on risk reduction and how it is affected is unable to provide would-be researchers with clear guidance for questionnaire construction and research design.