This study investigates the influence of perceived value and perceived risk on consumer intentions to purchase counterfeit luxury goods, drawing upon an integrated theoretical framework encompassing perceived value theory, risk perception theory, and consumer behavior models. Through a quantitative research design involving a structured survey and Structural Equation Modeling (SEM), the study examines the relationships among perceived value dimensions (functional, emotional, social, economic), perceived risk factors (financial, social, performance), consumer attitudes, and purchase intentions. The findings reveal that perceived value positively influences purchase intentions, with consumer attitudes acting as a critical mediating mechanism. Conversely, perceived risk negatively impacts purchase intentions, with this relationship also mediated by consumer attitudes. Furthermore, Bayesian Network analysis uncovers the indirect pathways through which perceived risk shapes purchase intentions via its influence on consumer attitudes. By integrating these theoretical frameworks and employing advanced analytical techniques, this study contributes to a comprehensive understanding of the complex decision-making processes underlying counterfeit luxury goods consumption. The findings provide valuable insights for policymakers, luxury brand managers, and consumer protection agencies in devising targeted strategies to address consumer perceptions of value and risk, ultimately mitigating the proliferation of counterfeit luxury goods.

1. Amaral, N. B. (2020). What can be done to address luxury counterfeiting? An integrative review of tactics and strategies. Journal of Brand Management, 27(6), 691–709. https://doi.org/10.1057/s41262-020-00206-6
2. Bradley, G. L., Babutsidze, Z., Chai, A., et al. (2020). The role of climate change risk perception, response efficacy, and psychological adaptation in pro-environmental behavior: A two nation study. Journal of Environmental Psychology, 68, 101410. https://doi.org/10.1016/j.jenvp.2020.101410
3. Eccles, J. S., & Wigfield, A. (2020). From expectancy-value theory to situated expectancy-value theory: A developmental, social cognitive, and sociocultural perspective on motivation. Contemporary Educational Psychology, 61, 101859. https://doi.org/10.1016/j.cedpsych.2020.101859
4. Eisend, M., & Schuchert-Güler, P. (2006). Explaining Counterfeit Purchases-A Review and Preview. Academy of Marketing Science Review, (6), 1–25.
5. Han, H. (2021). Consumer behavior and environmental sustainability in tourism and hospitality: A review of theories, concepts, and latest research. Sustainable Consumer Behaviour and the Environment, 29(11), 1–22.
6. Islam, T., Pitafi, A. H., Akhtar, N., et al. (2021). Determinants of purchase luxury counterfeit products in social commerce: The mediating role of compulsive internet use. Journal of Retailing and Consumer Services, 62, 102596. https://doi.org/10.1016/j.jretconser.2021.102596
7. Jiang, X., Yao, H., & Chao, G. (2009). Research on the Area Affected by the Purchase of Counterfeit Luxury Goods. Economic Management, 31(12), 103–108.
8. Le Roux, A., Thébault, M., & Roy, Y. (2019). Do product category and consumers’ motivations profiles matter regarding counterfeiting? Journal of Product & Brand Management, 28(6), 758–770. https://doi.org/10.1108/jpbm-06-2018-1923
9. Mukherjee, S., Datta, B., & Paul, J. (2020). The phenomenon of purchasing second-hand products by the BOP consumers. Journal of Retailing and Consumer Services, 57, 102189. https://doi.org/10.1016/j.jretconser.2020.102189
10. OECD & EUIPO. (2019). Trade in Counterfeit and Pirated Goods: Value Scope and Trends. OECD Publishing.
11. Paschina, S. (2023). Challenging the Value of Authenticity: The Consumption of Counterfeit Luxury Goods in Morocco. International Business Research, 16(11), 1. https://doi.org/10.5539/ibr.v16n11p1
12. Pun, H., Swaminathan, J. M., & Hou, P. (2021). Blockchain Adoption for Combating Deceptive Counterfeits. Production and Operations Management, 30(4), 864–882. https://doi.org/10.1111/poms.13348
13. Roh, T., Seok, J., & Kim, Y. (2022). Unveiling ways to reach organic purchase: Green perceived value, perceived knowledge, attitude, subjective norm, and trust. Journal of Retailing and Consumer Services, 67, 102988. https://doi.org/10.1016/j.jretconser.2022.102988
14. Rufat, S., de Brito, M. M., Fekete, A., et al. (2022). Surveying the surveyors to address risk perception and adaptive-behaviour cross-study comparability. Natural Hazards and Earth System Sciences, 22(8), 2655–2672. https://doi.org/10.5194/nhess-22-2655-2022
15. Siegrist, M. (2021). Trust and Risk Perception: A Critical Review of the Literature. Risk Analysis, 41(3), 480–490. https://doi.org/10.1111/risa.13325
16. Siegrist, M., & Árvai, J. (2020). Risk Perception: Reflections on 40 Years of Research. Risk Analysis, 40(S1), 2191–2206. https://doi.org/10.1111/risa.13599
17. Singh, D. P., Kastanakis, M. N., Paul, J., et al. (2021). Non‐deceptive counterfeit purchase behavior of luxury fashion products. Journal of Consumer Behaviour, 20(5), 1078–1091. https://doi.org/10.1002/cb.1917
18. Singh, S., Singh, N., Kalinić, Z., et al. (2021). Assessing determinants influencing continued use of live streaming services: An extended perceived value theory of streaming addiction. Expert Systems with Applications, 168, 114241. https://doi.org/10.1016/j.eswa.2020.114241
19. Sjöberg, L. (2020). Explaining risk perception: An empirical evaluation of cultural theory 1. Risk Management.
20. Srimonthavil, N., & Assarut, N. (2018). The Impact of Perceived Counterfeit Luxury Brand Proliferation on Luxury Brand Values and Patronage Intention. Market-Tržište, 30(1), 41–60. https://doi.org/10.22598/mt/2018. 30.1.41
21. Tu, J. C., Hsu, C. F., & Creativani, K. (2022). A Study on the Effects of Consumers’ Perception and Purchasing Behavior for Second-Hand Luxury Goods by Perceived Value. Sustainability, 14(16), 10397. https://doi.org/10.3390/su141610397
22. Tunçel, N. (2022). Willingness to purchase counterfeit luxury brands: A cross‐cultural comparison. International Journal of Consumer Studies, 46(2), 494–514. https://doi.org/10.1111/ijcs.12696
23. Wang, L., Jin, M., & Yang, Z. (2020). Regulatory focus and consumption of counterfeit luxury goods: Roles of functional theories of attitudes and perceived similarity. Journal of Business Research, 107, 50–61. https://doi.org/10.1016/j.jbusres.2019.10.026
24. Wilcox, K. & Zaichkowsky, J. L. (2020). The evolution of counterfeit luxury consumption. In: Research handbook on luxury branding. Edward Elgar Publishing.