OnDemand WTP Pricing Research

Tag: collusion

Travel Industry Leverages AI in Most Entrancing Ways for Advanced Customer Experience | Analytics Insight

Travel Industry Leverages AI in Most Entrancing Ways for Advanced Customer Experience | Analytics Insight

The adoption of new-age technologies such as Big Data, Analytics, AI, Machine Learning and others, has accelerated the growth of travel sales at digital plethora in the past few years. Out of all the technologies, big data and machine learning play a significantly important role in driving success to the business. Reportedly, in 2016 alone, […]

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

Lawsuit: ‘Broad Conspiracy’ of Drugmakers Inflating Market | Law & Crime

In May, a bloc of Attorneys General from 44 states filed a federal lawsuit against pharmaceutical giant Teva Pharmaceutical Industries–the largest producer of generic drugs in the world–and 19 others, alleging that drugmakers engaged in “a broad conspiracy to artificially inflate and manipulate prices” for more than 100 different generic drugs. Connecticut Attorney General William […]

Benefits Of Artificial Intelligence Pricing Solutions | net life set

Benefits Of Artificial Intelligence Pricing Solutions | net life set

The key objectives of any business are reduction of expenses and maximization of profits. Having many employees implies that the business will be paying a huge amount of money as wages and salaries at the end of every month. Nonetheless, with the advancement in technology, systems have been created that can help out the business […]

Are Online Shopping Algorithms Colluding the Prices? | CIO Review

Are Online Shopping Algorithms Colluding the Prices? | CIO Review

FREMONT, CA: While shopping online, it’s rare to witness a change in the price of a product within a short period. But as of recent, the trend is changing. The retailer’s pricing algorithm might be the underlying reason for the altered price. When deciding a product’s price, marketers consider the cost of similar products and […]

Part One: How can I use AI to improve my company’s pricing? | Artificial.

Part One: How can I use AI to improve my company’s pricing? | Artificial.

Modernising product pricing Take pricing. Traditional insurance pricing models are largely simplistic – a pricing matrix system, for example, registers the price of a consumer product and alters the premium accordingly from a couple of variables, categorising the risk in a simple matrix. These models can sometimes lead to uncontrollably high exposure and loss ratios, […]

Pricing Algorithms and Implications for Competition | Competition Policy International

Pricing Algorithms and Implications for Competition | Competition Policy International

Welcome to our first new issue of CPI’s Cartels column.  It’s been about two years since our last column, and much has happened in the area of collusion in that time.  We will be compiling interesting areas of discussion on cartels every month, most often with invited contributors, hoping to gather your interest and reaction.  […]

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 […]