Even without explicit collusion, pricing algorithms converge on price-fixing strategies
Boing Boing -

Literally the only kind of monopolistic behavior that the US government is willing to prosecute is price fixing, and that's why it's so important to read Artificial intelligence, algorithmic pricing, and collusion, a paper by four Italian economists from the University of Bologna who document how price-fixing is an emergent property of pricing algorithms -- the systems online merchants use to price-match with their competitors.

The researchers find that "even relatively simple pricing...

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