2.3 The relevance of perceived risk to perceived value
Spreng et al. (1993) conceptualized expected or pre-purchase perceived value as a consumer’s anticipation about the outcome of purchasing a product or service based on future benefits and sacrifices.They suggested that pre-purchase sacrifice expectations would include purchase, use, repair and psychological costs, and the time to purchase, use and repair. However, while some of these costs could be evaluated at the time of purchase, some will not be known.