Remember your last online purchase? Chances are, the price you paid was not set by humans but rather by a software algorithm. Already in 2015, more than a third of the vendors on Amazon.com had automated pricing (Chen et al. 2016), and the share has certainly risen since then – with the growth of a […]
Antitrust agencies are concerned that the autonomous pricing algorithms increasingly used by online vendors may learn to collude. This column uses experiments with pricing algorithms powered by AI in a controlled environment to demonstrate that even relatively simple algorithms systematically learn to play sophisticated collusive strategies. Most worrying is that they learn to collude by […]
Mike Papantonio: A group of generic drug manufacturers have been busted working together to drive up the cost of generic drugs in the United States. The cartel, and it is purely a drug cartel, used special coded language. As a matter of fact, they had their own lingo to help each other keep and plan […]
Abstract: We develop a game model to analyze the tacit collusion between regional ports under three different scenarios. In the first scenario, there is simultaneous pricing game between regional ports; this intends to depict pricing strategy adopted independently. In the second, we consider two competing ports that make sequential pricing decisions. Thirdly, an infinitely repeated […]
Are algorithms trying to steal our children? That’s the question at the heart of the latest airline ticket pricing scandal. Are budget airlines trying to squeeze more money out of families by deliberately allocating them seats in separate parts of the plane, then forcing them to pay a fee so that children can be seated […]
On 8 October 2018, the UK Competition and Markets Authority (“CMA”) published a Working Paper on the ‘use of pricing algorithms to facilitate collusion and personalized pricing’ (the “Paper”). It follows a number of other initiatives from competition authorities regarding algorithms, including the recent German Monopolies Commission’s proposals regarding pricing algorithms, which was the subject […]
The use of price optimisation software, often relied on by online retailers to make sure their prices are not being undercut by competitors, is coming under more scrutiny than ever. In a report released this month, an independent panel that advises the German government on competition law and policy-making called for stricter surveillance of online […]
Uber drivers team up in gangs to force higher prices before they pick up passengers, research has revealed. Researchers at the University of Warwick found Uber drivers in London and New York have been tricking the app into thinking there is a shortage of cars in order to raise surge prices. According to the study. drivers manipulate Uber’s algorithm […]
Uber drivers are deliberately going offline in unison so that prices surge and they can charge customers more when they log back into the app, according to new research. Uber’s so-called dynamic pricing model means that it responds to supply and demand, increasing the cost of a trip at busy times such as when bars […]
Top U.S. chicken companies Tyson Foods Inc (TSN.N) and Pilgrim’s Pride Corp (PPC.O) said on Monday that Florida’s attorney general sought information from them regarding a probe into possible anticompetitive behavior, widening a legal review into chicken pricing. Florida Attorney General Pam Bondi’s office has opened an investigation into allegations made in civil lawsuits, filed […]
This Week in Pricing > 8/17/19
TWIP is a digest of pricing focused news, thought leadership, events, training and certification resources for pricing professionals. This Edition is brought to you by: The Perfect Price AI platform makes millions of pricing decisions for forward-thinking companies around the world. Our cloud-based service allows customers to quickly anticipate and react to changes in demand in real-time […]
PND is a digest of pricing focused news, thought leadership, events, training and certification resources for pricing professionals. This Edition is brought to you by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations interested in embedding value-based methodologies in their go-to-market strategies related to innovation, marketing, […]
Amazon Offers Retro Pricing In Los Angeles For Maisel Day On August 15 | Fire Wire
Los Angeles residents will be able to purchase lunch, gasoline, makeup applications, shoeshines, movie tickets and hotel rooms at 1959 prices on August 15, which Amazon Prime is calling “Maisel Day.” That means you can see a movie for a mere 51 cents, grab a hot dog for 59 cents, and get your hair done (with […]
When the time comes to sell your home, it’s important to price the home right. If the home is badly priced, either too expensive or too inexpensive, you may lose money and take a long time to sell. Understanding the dangers of incorrect pricing, and working with a real estate professional to price your home […]
What’s Cutting Into Ohio State Football Ticket Sales? | WOSU Radio
When it comes to why fans aren’t showing up at home, though, ticket broker Tim Louters just starts pulling frames off his wall. “This is 1999,” he says, looking over a framed ticket and news clip, commemorating former head coach John Cooper’s 100th win. “Thirty-eight dollar ticket versus Cincinnati.” Louters runs Tickets Galore in Dublin. […]
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