Perceived risk and information search. A systematic meta-analysis of the empirical evidence

Does high perceived risk really induce intensive information search? A systematic meta-analysis of 100 empirical findings showing 51 contradictory results, raises severe doubts. For convenience goods, perceived risk usually seems to remain below the tolerated threshold. For complex goods, information search turns out to be only one among several risk-reducing instruments. The findings are also influenced by the extent, type, and validity of risk measurement, and by the operationalization of information search, but measurement problems alone cannot explain the contradictory evidence. Alternative theoretical concepts are proposed and implications for marketing and consumer policy are discussed.