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Showing posts from February, 2017

Democracy - Im Rausch der Daten

Film, hier. Post mit sunset clause: Nur noch für 5 Tage!
(VPN möglicherweise erforderlich).

When Competition Policy Meets Science Fiction (Part 2)

(Part 1 here)

Further discussions in London focused on a second constellation, characterized as “Hub and Spoke”, in which competitors do not predetermine the pricing rules themselves but outsource this function to a third party. The main differences between this and the “Messenger Scenario” (as described above with reference to the UK poster case) are that the parties here a) use the same automated repricing tool and b) the computer programme calculates prices based on its own blueprint and not directly executing the rules set by the human sellers. As noted by some of the conference speakers and thoroughly discussed in the book Virtual Competition, the use by competing sellers of automated repricing capabilities offered by a single provider can lead to some measure of de facto price alignment. This result is potentially worrisome and competition enforcers should be prepared to address it in a suitable way. This shouldn’t be too difficult where the dampening of price competition produ…

When Competition Policy Meets Science Fiction (Part 1)

The algorithmic economy is the new digital economy, in case you hadn’t noticed. Companies use the outcome of sophisticated data analytics in order to enhance internal monitoring, better tailor marketing strategies, cut processing costs, deploy new or refurbished products and services, and determine sale prices. On their side, consumers have been embracing algorithm-based services such as search engines (e.g., Google and Bing), aggregators (Booking.com and Amazon Marketplace), rating services (e.g., Tripadvisor and Yelp), recommender systems (e.g., Deezer and Spotify) and bidding agents (e.g., eBay’s ) to help them navigate the web and make purchase decisions, both online and offline. Moreover, recent advances in the area of artificial intelligence (AI), combined with Gargantuan strides in computing storage and processing power,open new opportunities to employ algorithms along the economic value chain and to further automate market transactions. Parallel developments in the so called …

Coming Soon: New "Fly on the Wall" Episode based on Innovation Economics for Antitrust Lawyers

Event here.