User behavior plays a significant role in understanding the decisions that shape the network communication market. However, the influence of users’ rationality on the competition between Content Providers (CPs) has been widely overlooked in the literature. This paper examines a game model where multiple CPs compete in a non-cooperative manner over pricing and content credibility strategies in the presence of users with bounded rationality. We formulate the utility functions of CPs by incorporating a rationality parameter to model the cognitive limitation of users. We mathematically show that each game admits a unique Nash equilibrium. Furthermore, the Best response algorithm was used to simulate the interactions and validate our results. Numerical simulations confirm the equilibrium of the market and reveal how CPs exploit user irrationality to maximize their profit at the expense of user welfare.