Research Article
Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion
Figure 3
The seller’s solution under a uniform spread of shopping behavior. Main parameters in Table 3 and those used earlier as benchmark ().
(a) Probability mass functions as the number of visited shops increases from blue () to red () |
(b) Profits versus prices (optimal) for an increasing spread of the shopping distribution as entropy increases from blue () to red () |