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and are non-instantaneous (payment may occur days orweeks before delivery is completed) — can causeconsumers to be concerned that the seller won't adhereto its transactional obligations. Consequently, trust in anInternet business is focused much more on transactionprocesses [82], in contrast to that of traditional transactionsinvolving brick-and-mortar stores where trust tendsto be focused on face-to-face personal relationships. Quitepossibly, the key to success in Internet business is theestablishment of trusted transaction processes where esellerscreate an environment in which a prospectiveconsumer can be relaxed and confident about any prospectivetransactions [66]. Since trust is likely to play anessential role in online transactions, it is important toidentify the antecedents of a consumer's trust in thecontext of an Internet transaction.In prior research, trust has been viewed throughdiverse disciplinary lenses and filters: economic [43,65,132], social/institutional [26,39,58], behavioral/psychological[47,70], managerial/organizational [9,79,112,125,135], and technological [23,27,96]. Trust is consideredessential in exchange relations because it is a keyelement of social capital [98] and is related to firm performance,satisfaction, competitive advantage, and othereconomic outcomes such as transaction cost [9,41,68] andsearch cost reductions [67].Because trust has been studied through these differentdisciplinary lenses, previous research related to trust inthe e-commerce context tends to be disjointed, casespecific,and/or loosely integrated. For example, moststudies on technological trust have focused narrowly onissues of privacy, security, public key infrastructure, andother technical aspects of trust [13,16,72,94]. Some recentstudies [64,82,115,117] have focused on the social andbehavioral elements of trust in an e-commerce context,however these were again narrowly focused (e.g., theyfocused on a limited number of trust antecedents, orfocused on trust in the community of sellers as a group),and therefore researchers have not yet developed acomprehensive understanding of the factors that predictconsumer trust in the e-commerce context. Given theincreasing prevalence of B-to-C Internet commerce,there is an urgent need to analyze an online consumer'sdecision-making process from a holistic standpoint whichcan provide an understanding of the complex and dynamicphenomena of trust in online exchanges. Accordingly,the specific research questions for the present studyare as follows: What are the roles of trust and risk in aconsumer's B-to-C online purchasing decision? Are theycritical in B-to-C online transactions? And what antecedentscan be identified that affect a consumer's trust andrisk toward a B-to-C online transaction?Since research on trust has been conducted from avariety of disciplinary perspectives, many definitions oftrust have evolved. Prior research on traditional commercefocused primarily on interpersonal trust such as acustomer's trust in a salesperson. Plank et al. [120]recognized that consumer trust could have multiplereferents — salesperson, product, and company — andaccordingly defined trust as a global belief on the part ofthe buyer that the salesperson, product, and company willfulfill their obligations as understood by the buyer.Similarly, in the e-commerce context [7,11,15,24,42,62,69,76,101,103,115,122,135], researchers have tendedto define describe trust as a subjective belief, a subjectiveprobability, the willingness of an individual to bevulnerable, reliance on parties other than oneself, or aperson's expectation. In our study, we will focus on thetrust that a consumer has in an Internet vendor. Logically,this should include trust in the Website (e.g., www.amazon.com), theWebsite brand, and the firm as a whole.Accordingly, in this paper an online consumer's trust isdefined as a consumer's subjective belief that the sellingparty or entity will fulfill its transactional obligations asthe consumer understands them.This paper provides several contributions. First, inorder to uncover the role of trust, risk and their antecedentsin B-to-C Internet commerce, this study develops aholistic trust-based consumer decision model to describethe decision-making process that a consumer uses whenmaking a purchase from a given site. Second, to the best
of our knowledge, most studies in the e-commerce
environment have collected data concerning a consumer's
successful purchasing experiences. Yet, because successful
cases represent only a fraction of all consumer transaction
behaviors, these past studies may have painted an
incomplete picture (i.e., a biased view) of B-to-C
electronic commerce transactions. Accordingly, in the
present study we present a research design that enables us
to examine transaction experiences that resulted in nonpurchases
in addition to completed purchases. In other
words, we collected data from both “successful” cases
and “unsuccessful” cases, and therefore can provide a
more complete picture of a consumer's B-to-C decisionmaking
process. Third, our testing of the proposed model
with the Partial Least Squares (PLS) Structural Equation
Modeling technique [48] provides empirical evidence that
trust, perceived risk, and perceived benefit are strong
determinants of a consumer's e-commerce transaction
decision. Finally, the findings of this study provide
several insights which should help practitioners better
understand the role of trust and its antecedents in ecommerce,
and ultimately add trust-building mechanisms
into e-retailers' Websites
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