MedPage Today April 29, 2024
— Algorithms have ushered in a new era of pricing
New technologies are making it easier for companies to fix prices and discriminate against individual consumers, the Biden administration’s top consumer watchdog said last week.
Algorithms make it possible for companies to fix prices without explicitly coordinating with one another, posing a new test for regulators policing the market, said Lina Khan, chair of the Federal Trade Commission (FTC), during a media event hosted by KFF.
“I think we could be entering a somewhat novel era of pricing,” Khan told reporters.
Khan is regarded as one of the most aggressive antitrust regulators in recent U.S. history, and she has paid particular attention to the harm that technological advances can pose...
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