Amazon reportedly used a secret algorithm to jack up prices
www.theverge.com
The FTC’s public antitrust complaint redacted its Project Nessie section.

Amazon reportedly used a secret algorithm to jack up prices — A new report details Amazon’s Project Nessie pricing algorithm::Amazon deployed a secret algorithm to gauge how high it could raise prices before its competitors stopped increasing their prices as well.

  • @SpaceNoodleEnglish
    51•9 months ago

    This is news? I know that gas stations specifically have been doing it forever.

    • @Whelks_chanceEnglish
      26•9 months ago

      Surely every company makes decisions on how best to increase income, that’s a pretty significant part of being a business.

      • @[email protected]English
        5•9 months ago

        Right? Amazon’s monopoly is definitely a problem but this part feels pretty par for course. Finding the sweet spot between price/competition/demand is like business fundamentals 101. I can assure you this is something all major retailers consider. There are also many analytics companies with their own “secret” algorithms (this probably just means proprietary?) focused on things things like pricing elasticity and optimization and are targeted to these retailers.