Past research has recognized that electronic purchase decisions are inherently risky, and therefore trust may be an important factor in giving consumers the confidence they need to engage in such transactions [7], [38], [62], [78] and [135]. Yet many researchers have not systematically explored how trust and perceived risk may operate in combination to influence such decisions and what kinds of trust and risk antecedents play a significant role in the consumer trust-building process. In this paper, based on the net valence framework [119] we developed a trust-based consumer decision-making model in electronic commerce that recognizes that trust, perceived risk, and perceived benefit may directly influence purchase intentions and decisions, and trust may also influence purchase intentions indirectly by influencing risk perceptions. Additionally, the consumer decision-making model explores four different categories of trust antecedents that affect trust and/or perceived risk in such situations. While these represent important contributions for research, we also note that most of the predictors of trust and perceived risk identified in the model also represent factors that can be directly or indirectly controlled by vendors through Website design (e.g., information quality, security and privacy protections, third-party seals) or the conduct of business transactions (e.g., reputation). Thus, the model and results are likely to have important practical implications for merchants who wish to build their Internet business by increasing their customers' trust and decreasing their customers' risk.