#algorithmic pricing

[allthecanadianpolitics]

Algorithmic pricing is being used in Canada. Why many want it banned - National | Globalnews.ca

Most Canadians want the government to ban or regulate the use of algorithms to set prices, a new poll suggests — with half of respondents sa

The Abacus Data poll, which was conducted online and can’t be assigned a margin of error, polled 1,931 Canadians on algorithmic pricing. Around half (52 per cent) of those polled by Abacus said the practice should be banned and 31 per cent said it should be allowed but more strictly regulated. David Coletto, CEO of Abacus Data, said that while most people aren’t necessarily familiar with the term, most have felt the effects of algorithmic pricing.

Read more.

Tagging: @newsfromstolenland

[absurdlakefront]

We uncovered a secret corporate scheme to raise grocery prices.

We found that Instacart is using AI algorithms to charge customers different prices for the same items. The scary part? It's not just online. It's in physical grocery stores, too.

Our months-long investigation with Consumer Reports and Groundwork Collaborative found it could cost families $1,200/year.

We are being sorted into consumer segments by AI using behavioral tracking and charged to maximize profits both online and in stores. This needs regulation now.

[shinisenko]

[rebuiltzine]

Montgomery Council’s “Anti-Algorithmic Price Fixing Act” Targets Rent-Setting Software

By MDBayNews Staff Montgomery County Councilmember Will Jawando has introduced what he calls the “Anti-Algorithmic Price Fixing Act,” legislation aimed at prohibiting the use of certain rent-setting software tools that, he argues, enable landlords to coordinate prices and drive up housing costs across the county. According to the councilmember’s office, the bill would ban landlords from using…

Montgomery Council’s “Anti-Algorithmic Price Fixing Act” Targets Rent-Setting Software

[moneymire]

Why you shouldn’t accept price-gouging

This Oasis was different. The English rock band offered its fans frustration, not pleasant relief. The rock band’s much-anticipated reunion tour in United Kingdom ended in a mess. Fans now have a troubled tale to narrate. They are angry over the hike in the price of tickets, that too without warning, for the 17 shows in 2025. One is not sure who made the most money, performing Gallagher brothers…

Why you shouldn’t accept price-gouging

[furryalligator]

(via When Computers Collude : Planet Money : NPR)

Most economists believe flexible pricing is good for society, at least when it comes to overall economic efficiency and growth. When companies can tailor prices to people, more trades get done and more stuff gets made. While some consumers have to pay more, others get to pay less. Algorithmic pricing could also help prevent waste by, for example, lowering prices on produce as it gets closer to going bad.