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Previous investigations of perceived risk have used different components to estimate the consequence of overall perceived risk. Jacoby and Kaplan (1972) incorporated all these components in the same study and determined which of the components best predicted overall perceived risk for 12 product categories. The present study cross-validated the earlier results. One hundred and four subjects evaluated the physical, psychological, social, financial, performance, and overall perceived risk associated with the purchase of 12 products. Jacoby and Kaplan's (1972) prediction equations were applied to the data to obtain predicted overall perceived risk values for all products. Results of the cross-validation reflected very high agreement with the earlier data.

The need to evolve the visual depictions of our consumer behavior models is addressed. Previous models are criticized for being constructions that fail to build on prior theory, and lack parsimony, comprehensiveness, coherence, and flexibility. More revolutionary movement in consumer behavior modelling is encouraged and an integrative Stimulus–Organism–Response framework is presented for consideration.

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