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 ()