With the emergence of technologies such as electronic shelf labels, some grocery retailers had begun to trial intra-day time-based pricing where they charge higher prices during congested peak hours. Such industry trend along with the influence of pandemic has motivated us to examine whether,...

We analyze the strategic behavior of firms when demand is determined by a rule of thumb behavior of consumers. We assume consumer dynamics where individual consumers follow simple behavioral decision rules governed by imitation and habit as suggested in consumer research. On this basis, we...