Behavioral Consequences of Value Perception in Steam Community Market Users

Abstract

Objective: besides free access to online games that adopt the free-to-play business model, players may purchase items to customize the game’s appearance in a consumer-to-consumer (C2C) marketplace. However, the aesthetic value of the virtual items has yet to receive attention in the literature. For this type of game, this study examines a conceptual model of user participation in purchasing virtual goods, testing the relationships between perceived value dimensions (aesthetic, functional, and economic), continued usage intention, and word-of-mouth (WOM) recommendation, with attitude as a mediating factor. Methods: a survey sample of 157 Brazilian users was analyzed with structural equation modeling. Results: the three types of perceived value were supported as antecedents of attitude, which mediates the relationships between perceived value and the consequent intentions of reuse and WOM recommendation. The model’s overall fit index is 64.61%, and its explanatory power is 44% for continued use intention and 64% for WOM recommendation. Conclusions: this study advances the understanding of the dynamics of C2C markets for virtual goods through an empirical analysis of the antecedents of loyalty, including the aesthetic dimension of perceived value. The findings indicate where the platforms can improve, for example, reinforcing the aesthetic value of virtual goods to promote connections with and among users, thus increasing continued use and WOM recommendation.