Risk (Financial)

What it measures

A multiple-item likert scale designed to measure the degree to which a person is certain that the price stated in an advertisement for a product at a certain store is the lowest available.

Response format

7-point Likert (1=strongly disagree, 7=strongly agree)

Scale items

• I will not risk paying too much if I buy the __________ in this ad.
• The sale price in the ad is probably the lowest price available in the market.
• I am confident about getting the __________ at the lowest possible price if I buy from this store.
• I am not likely to find a better price at some other store.
• The blanks in #1 and #3 should be filled with a word or phrase identifying the focal product.

Full scale items shown. Always cite the original source when using this scale in research.

Citation

Biswas, Abhijit, Sujay Dutta, and Chris Pullig (2006), “Low Price Guarantees as Signals of Lowest Price: The Moderating Role of Perceived Price Dispersion,” Journal of Retailing, 82 (3), 245-257.

Keywords