This paper examines the impact of behavioral targeting on the profits and welfare of mobile marketers. The authors consider competing firms that use geo-targeting and behavior-based pricing to send personalized offers to customers. They find that the profitability of behavioral data can depend on firms' discount factors and consumers' transport costs. The paper demonstrates that behavioral targeting may be profitable under certain conditions, such as when consumers have similar transport costs, but can also lead to reduced profits when consumers are too similar. The authors also show that the distribution of transport costs can predict the effect of behavioral pricing on profits, with more heterogeneous costs leading to more negative effects. The paper contributes to the literature on behavior-based price discrimination and oligopolistic mobile geo-targeting, providing insights into how firms can strategically use behavioral data to maximize profits.This paper examines the impact of behavioral targeting on the profits and welfare of mobile marketers. The authors consider competing firms that use geo-targeting and behavior-based pricing to send personalized offers to customers. They find that the profitability of behavioral data can depend on firms' discount factors and consumers' transport costs. The paper demonstrates that behavioral targeting may be profitable under certain conditions, such as when consumers have similar transport costs, but can also lead to reduced profits when consumers are too similar. The authors also show that the distribution of transport costs can predict the effect of behavioral pricing on profits, with more heterogeneous costs leading to more negative effects. The paper contributes to the literature on behavior-based price discrimination and oligopolistic mobile geo-targeting, providing insights into how firms can strategically use behavioral data to maximize profits.