OnDemand WTP Pricing Research

Tag: Personal Pricing

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

A Guide to Dynamic Pricing Algorithms | Grid Dynamics

Price setting is one of the most important problems in retail because any price setting error directly results in lost profit. However, traditional price management methods almost never achieve optimal pricing because they are designed for traditional environments, where the frequency of price changes is inherently limited (e.g., brick-and-mortar stores), and the complexity of pricing […]

How Is AI Is Empowering Sales | CIO Applications

How Is AI Is Empowering Sales | CIO Applications

Companies are using artificial intelligence and Machine Learning in all possible ways to advance their businesses. AI monitors a customer’s online activity to predict and suggest certain products which are relevant to the customer. Companies need to identify the different types of data sets that can be combined to portray the complete picture of the customer […]

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 […]

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 […]

UK government to probe how online retailers target shoppers with personalised pricing | The Drum

UK government to probe how online retailers target shoppers with personalised pricing | The Drum

The UK government is launching an inquiry into how online retailers use personal data to target consumers with individual prices for purchases like holidays, cars and household goods. The Competition and Market Authority (CMA) has commissioned research to explore just how widespread the practice of targeting consumers through personalised pricing and search results is. The […]

Discussion: Personalised pricing could cost you dear | The Times

Discussion: Personalised pricing could cost you dear | The Times

While such strategies persist in used car showrooms and flea markets, they mostly went out of fashion in the developed world a few hundred years ago when fixed prices came along. Some think it started with department stores — Bennetts in Derby in the 18th century or John Wanamaker’s stores in Philadelphia the next. Others […]

Personalised pricing online retailers’ newest ploy | The Austrailian

Personalised pricing online retailers’ newest ploy | The Austrailian

If the key to getting the best price is not showing the seller how keen you are, not revealing how much you can really afford and not caring if you seem like a tightwad, you’ve just lost the advantage. Online businesses don’t want you to know it, but they are using artificial intelligence to design […]

Swiss supermarket introduces personal pricing; the more you buy lesser discount you get | Retail Magazine

Swiss supermarket introduces personal pricing; the more you buy lesser discount you get | Retail Magazine

The idea is to encourage people who only occasionally buy something, whether it’s a bar of chocolate or mouthwash, to buy it regularly by giving them a discount on their next purchase. Market experts estimate that the system can earn a growth of revenue of around 8%. Dynamic prices are nothing new in supermarkets, which […]