This study draws attention to the direct application of perceived risk theory and to understand consumers’ purchasing behavior in the online market. The results of the study provide useful information on the identification of perceived risk in online air-ticket purchases. As Pope et al. (1999) insist, perceived risk varies from product to product. The product-specific identification of perceived risk is one of the contributions of the current study. Furthermore, this study identified that security risk, which is not a type of perceived risk in the traditional market, is most important to understanding overall risk. In addition, the study revealed that non-purchasers perceived higher risk than online purchasers. It supports the results of several scholars that experience is a major factor in reducing risk in online purchases. On the other hand, it also provides some different findings from Pires, Stanton, and Eckford (2004) and Ueltschy et al. (2004) that experience does not influence the level of consumer risk in online air-ticket shopping. More specifically, performance, security, financial, psychological, and time risks were perceived as more important by nonpurchasers than online purchasers.