The Mediating Effect of Perceived Value on Online Reviews’ Purchasing Intention--Perspective of Prospect Theory

Abstract

Based on prospect theory, this paper studies the influence of online comments on consumers’ perceived value and purchase intention from the perspective of bounded rationality, analyzes the mediating role of consumers’ perceived value, understands the psychological changes of consumers, and enriches the theoretical framework of consumer purchase behavior research. Consumer perceived value was measured based on prospect theory. A model of online reviews’ influence on consumers’ purchase intention based on the mediating effect of perceived value was proposed. A scenario simulation experiment was conducted in the form of questionnaire to test the proposed model. Consumer perceived value measured based on prospect theory has a complete mediating effect between online reviews and consumers’ purchase intention. The quantity, quality, emotional orientation and source credibility of online reviews significantly affect consumers’ perceived value, and thus their purchase intention.