Impact of Heterogeneous Consumers on Pricing Decisions under Dual-Channel Competition

Table 1

Classification of consumer types.

Consumer type	Loyalty			Rationality		Fraction to the total population
	Indirect channel; ()	Direct channel; ()	Acceptable to both channels	Perfect rationality; )	Bounded rationality; ()
Type-1	Y^*	—^*	—	—	—
Type-2	—	Y	—	—	—
Type-3	—	—	Y	Y	—
Type-4	—	—	Y	—	Y

 ^*“Y” denotes “Yes”; “—”denotes “not applicable.”