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Fri, Dec 15

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https://youtu.be/xaEkNDu8exc

Jingle Bots: Algorithmic Pricing and Christmas Prices

As Christmas approaches and we continue to spend more money online each year, Santa Claus or some salespeople may not be the ones setting the prices on our Christmas list. What impact will the rising use of algorithmic pricing have on competition and innovation?

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Jingle Bots: Algorithmic Pricing and Christmas Prices
Jingle Bots: Algorithmic Pricing and Christmas Prices

Time & Location

Dec 15, 2023, 10:00 AM

https://youtu.be/xaEkNDu8exc

About the event

As Christmas approaches and we continue to spend more money online each year, Santa Claus or some salespeople may not be the ones setting the prices on our Christmas list. What impact will the rising use of algorithmic pricing have on competition and innovation? Professor Aurelien Portuese, Founding Director of the GW Competition & Innovation Lab, moderates a panel of leading scholars to answer these questions.   

Professor Michal Gal is a law professor and the director of the Center for Law and Technology at the University of Haifa's Faculty of Law. Prof Gal was until this year the President of the International Academic Society for Competition Law Scholars (ASCOLA). She has taught at the University of Chicago, New York University, Columbia, Georgetown, Melbourne, the National University of Singapore, and Bocconi.  Professor Gal co-authored "Algorithmic Consumers" at the Harvard Journal of Law and Technology with Niva Elkin-Koren, concluding that "Roles that have been performed by humans for centuries will soon be transferred to algorithms. This change is inevitable, given technological developments that give algorithmic consumers strong comparative advantages over human consumers in some decision-making processes.” Prof Gal and Daniel Rubinfeld wrote "Algorithms, AI, and Mergers" in the Antitrust Law Journal in 2023, concluding that "the consequences of algorithmic use are not efficiently addressed by alternative consumer protection or antitrust laws."   

Salil Mehra is Charles Klein Professor of Law and Government, and Director of the LL.M. in Asian Law at Temple University, also joins us. Prof Mehra, for example, wrote in the Minnesota Law Review, "Antitrust and the robo-seller: Competition in the Age of Algorithms," concluding that "the advent of autonomous pricing via algorithmic processing of mass sales data can turn this doctrinal antitrust crisis into an opportunity for reexamination." Prof Mehra co-edited the book "Algorithms, Collusion, and Competition Law: A Comparative Approach" with Steven Van Uytsel (Editor) and Yoshiteru Uemura (Editor) in 2023. The book compiles scholarly debate on algorithmic collusion from a comparative perspective.  

Professor Kanishka Misra of the University of California, San Diego's Department of Marketing and Analytics. Prof Misra has recently published “Artificial Intelligence and Pricing” With Diego Aparicio who concluded that “The adoption of price algorithms tends to increase the frequency of price changes or the price dispersion across customers. Despite the benefits from a revenue management perspective, AI pricing raises timely and challenging questions about its effects on the public at large, including discrimination, fairness concerns, transparency, and market collusion between sellers.”   

What are algorithms? How do algorithms affect the competitive process in positive and negative ways? How should regulators approach these challenges?

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