When faced with competition and the ease with which customers cancompare prices across sellers, Internet vendors often lower prices ina bid to increase sales. However, recent research reports that even price-sensitive customers do not always purchase from Internet vendors offering the lowest prices. In contrast, value has been considered a key motivator of customer decision making in economics andmarketing. However, little is known about the role and effect ofvalue in Internet shopping. This study examines online customerpurchase decision making from the value perspective based on mental accounting theory. This study also identifies monetary (perceivedprice) and non-monetary (perceived risk, convenience, and pleasure)determinants of value. This study further explains how the individual determinants affect online purchase decision making directlyand indirectly though value perception. The findings of this studyoffer Internet vendors practical suggestions for increasing onlinesales. This study, with its results, also helps advance knowledge ofelectronic commerce.
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