'Paying for Surprise?': A Systematic Review of Factors and Mechanisms Driving Mystery Box Transactions in E-Commerce

Abstract

The mystery box market continues to expand in size and scope worldwide. However, little is still understood about the key factors and underlying mechanisms that drive mystery box transactions on digital platforms. In this paper, we present a synthetic literature review by first introducing related concepts and theoretical mechanisms that can help us understand this emerging phenomenon. We then synthesize key research findings and perspectives covered in recent studies. Drawing on this review, we propose three types of uncertainty: risk, ambiguity, and mystery, and discuss the key mechanisms as well as the broad effects of uncertainty in driving the popularity of such uncertainty-laden products. We conclude our review by proposing a number of high-value future research directions and discuss the relevant implications for policy makers and businesses. We contend that the insights from this study will contribute to a richer understanding of mystery boxes in both academia and practice.

Keywords: Mystery Box, Uncertainty, Probabilistic Products, Ambiguity, Risk

JEL Classification: M31, M21, D03, D18, D81