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Tag: collusion

Artificial intelligence, algorithmic pricing, and collusion | VOX

Artificial intelligence, algorithmic pricing, and collusion | VOX

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 […]

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

Algorithms Are Better Than We Thought – They Can Collaborate Into Cartels | The Continental Telegraph

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 […]

Generic Drug “Cartel” Busted In Pricing Collusion Scheme | The Ring of Fire Network

Generic Drug “Cartel” Busted In Pricing Collusion Scheme | The Ring of Fire Network

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 […]

Tacit Collusion of Pricing Strategy Game between Regional Ports: The Case of Yangtze River Economic Belt | MDPI

Tacit Collusion of Pricing Strategy Game between Regional Ports: The Case of Yangtze River Economic Belt | MDPI

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 budget airlines really charging families to sit with their own children? | NewStatesmanAmerica

Are budget airlines really charging families to sit with their own children? | NewStatesmanAmerica

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 […]

The CMA’s Paper on Pricing Algorithms, Collusion and Personalised Pricing |  The National Law Review

The CMA’s Paper on Pricing Algorithms, Collusion and Personalised Pricing | The National Law Review

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 […]

Grocers must be mindful of price-setting software | The Grocer

Grocers must be mindful of price-setting software | The Grocer

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 gang up to cause surge pricing, research says | The Telegraph

Uber drivers gang up to cause surge pricing, research says | The Telegraph

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 work together to create price surge and charge customers more, researchers find | The Independent

Uber drivers work together to create price surge and charge customers more, researchers find | The Independent

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 […]

Florida probes Tyson Foods, Pilgrim’s Pride on chicken pricing | Reuters

Florida probes Tyson Foods, Pilgrim’s Pride on chicken pricing | Reuters

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 […]