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Consumers' privacy concerns remain the primary barrier for future growth of e-commerce. Research to date has so far considered privacy concerns either as an independent variable to explore consumers' actual (or stated) behavioural intentions (e.g. the decision to purchase goods online) or as dependent variable explained through a number of antecedents (e.g. privacy awareness). However, there has not been a formal link across antecedents, latent constructs and (stated) behavioural intentions. This study establishes this link through a stated choice experiment, and an integrated latent variable and choice model. The proposed approach simultaneously explains individuals' perceptions of privacy and general caution through observed individual characteristics and explores how these perceptions, in the form of latent constructs, may be associated with consumers' decisions to engage with an online transaction …