Perceived risks in the acceptance of e-commerce: evidence from Costa Rica

Abstract

This study examines perceived risks associated with consumer acceptance of e-commerce in Costa Rica, where digital transactions have expanded rapidly but face barriers related to trust and technological reliability. Despite extensive research on e-commerce adoption, limited attention has been given to how different dimensions of perceived risk interact within evolving digital markets. Drawing on the Technology Acceptance Model (TAM) and a multidimensional risk perspective, the research analyzes the effects of perceived ease of use, perceived usefulness, and three risk dimensions: information misuse risk, failure to gain product benefits risk, and functionality inefficiency risk. A quantitative approach was employed using structural equation modeling (SEM) based on survey data from 399 consumers. The results indicate that perceived ease of use (β = 0.695, p < 0.001) and perceived usefulness (β = 0.565, p < 0.001) are the strongest predictors of e-commerce acceptance. Unexpectedly, functionality inefficiency risk exhibited a positive and significant relationship with e-commerce acceptance (β = 0.287, p < 0.001), contrary to the hypothesized negative effect. This finding suggests that consumers who frequently use e-commerce platforms may remain active users despite being more aware of operational limitations. By contrast, information misuse risk (β = 0.075, p = 0.080) and failure to gain product benefits risk (β = −0.001, p = 0.974) did not significantly influence e-commerce acceptance. These findings contribute evidence on consumer perceptions of technological and transactional risk in emerging digital markets and provide managerial insights for firms seeking to strengthen platform usability and technical reliability to facilitate e-commerce adoption.