Algorithmic Tacit Collusion
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Algorithmic Tacit Collusion
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Author : Valeria Caforio
language : en
Publisher:
Release Date : 2022
Algorithmic Tacit Collusion written by Valeria Caforio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
In light of the ongoing debate on algorithmic collusion, this paper intends to answer the following question: should algorithmic tacit collusion be prohibited under EU competition law? By algorithmic tacit collusion it is meant the capability of algorithmic pricing agents to unilaterally engage into tacitly collusive strategies without human intervention (we also call it 'machine-to-machine cooperation' or 'algorithmic interdependent pricing'). Essentially, this practice raises the very same issues as the well-known oligopoly problem. Therefore, to make it prohibited one could envisage the traditional proposed solution of disentangling the categories of article 101 TFEU from the notions of an 'act of reciprocal communication between firms' or 'meeting of minds'. The paper sets out to discuss this option and its implications. It argues that, from a competition law standpoint, although algorithmic tacit collusion remains undesirable, the notions of agreement and concerted practices should not be changed to encompass it. Rather, it embraces a regulatory perspective referred to as 'algorithms by design' which relies on introducing a legal obligation for firms to program algorithms in such a way as to prevent them from setting oligopolistic prices. In particular, while exploring this regulatory proposal, the paper discusses the peculiar case of algorithms that, though designed not to violate antitrust law, end up charging collusive prices. In this regard, the paper develops a second proposal: it introduces the idea of 'outcome visibility' to nail firms to their responsibility. This concept implies the idea that even if firms are not aware that their pricing algorithms are implementing a collusive strategy, they cannot ignore their visible market outcome.
Algorithmic Pricing And Tacit Collusion
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Author : Richard Steppe
language : en
Publisher:
Release Date : 2018
Algorithmic Pricing And Tacit Collusion written by Richard Steppe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
What Do We Know About Algorithmic Tacit Collusion
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Author : Ai Deng
language : en
Publisher:
Release Date : 2019
What Do We Know About Algorithmic Tacit Collusion written by Ai Deng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
The past few years have seen many legal scholars and antitrust agencies expressing interest in and concerns with algorithmic collusion. In this paper, I survey and draw lessons from the literature on Artificial Intelligence and on the economics of algorithmic tacit collusion. I show that a good understanding of this literature is a crucial first step to better understand the antitrust risks of algorithmic pricing and devise antitrust policies to combat such risks.
A Market Investigation Tool To Tackle Algorithmic Tacit Collusion
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Author : Colm Hawkes
language : en
Publisher:
Release Date : 2021
A Market Investigation Tool To Tackle Algorithmic Tacit Collusion written by Colm Hawkes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
Algorithms Collusion And Competition Law
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Author : Steven Van Uytsel
language : en
Publisher: Edward Elgar Publishing
Release Date : 2023-01-20
Algorithms Collusion And Competition Law written by Steven Van Uytsel and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-01-20 with Law categories.
What is algorithmic collusion? This evaluative book provides an insight into tackling this important question for competition law, with contrasting critical perspectives, including theoretical, empirical, and doctrinal – the latter frequently from a comparative perspective. Bringing together scholarly discussion on algorithmic collusion, the book questions whether competition law is adeptly equipped to deal with its various facets.
Algorithmic Collusion Its Implications For Competition Law And Policy
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Author : Kenji Lee
language : en
Publisher:
Release Date : 2019
Algorithmic Collusion Its Implications For Competition Law And Policy written by Kenji Lee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Algorithms are increasingly employed by businesses as an integral part of their business models given the availability of big data and breakthroughs in artificial intelligence technology and application. While the competition landscape has shifted to a digital environment, questions have been raised as to whether the traditional competition policy tools, formulated in the analogue era, may nevertheless remain relevant in addressing algorithmic anti-competitive practices. In particular, the unilateral use of algorithms and algorithmic tacit collusion raises enforcement challenges for the competition authorities because of the inability of existing ex-post measures to adequately address these algorithmic anti-competitive conducts. This paper discusses these issues through a critical analysis of the relevant law, economics and computer science literatures.
Algorithmic Pricing Collusion The Limits Of Antitrust Enforcement
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Author : Sumit Bhadauria
language : en
Publisher:
Release Date : 2020
Algorithmic Pricing Collusion The Limits Of Antitrust Enforcement written by Sumit Bhadauria and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The combination of big data, large storage capacity and computational power has strengthened the emergence of algorithms in making myriads of business decision. It allows business to gain a competitive advantage by making automatic and optimize decision making. In particular, the use of pricing algorithms allows business to match the demand and supply equilibrium by monitoring & setting dynamic pricing. It benefits consumer alike to see and act on fast changing prices. However, on the downside, the widespread use of algorithm in an industry has the effect of altering the structural characteristic of market such as price transparency, high speed trading which increases the likelihood of collusion. The ability of pricing algorithm to solve the cartel incentive problem by quickly detecting and punishing the deviant further strengthen the enforcement of price fixing agreement. In addition, the use of more advance forms of algorithm such as self-learning algorithm allows business to achieve a tacitly collusive outcome in limited market characteristic even without communication between humans. This raises the fundamental challenge for anti-cartel enforcement as the current law in most jurisdictions is ill-equipped to deal with algorithmic facilitated tacit collusion. The legality of tacit collusion is questionable primarily because the pricing algorithm has the ability to alter the market characteristics where the tacitly collusive outcome is difficult to achieve; thus widening the scope of the so-called 'oligopoly problem'. This paper studies the usages of pricing algorithms by business in online markets. In particular, the paper identify the conditions under which the algorithm prices causes the harm to consumers. It seeks to analyze how algorithms might facilitate or even causes the collusive outcome without human interventions. Further, it looks at the legal challenges faced by the competition authorities around the globe to deal with the algorithmic let collusion and examine the various approaches suggested to counter act it.
What Do We Know About Algorithmic Collusion Now New Insights From The Latest Academic Research
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Author : Ai Deng
language : en
Publisher:
Release Date : 2023
What Do We Know About Algorithmic Collusion Now New Insights From The Latest Academic Research written by Ai Deng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
Algorithmic collusion has captured the attention of the global antitrust community for the past several years. Deng (2020) provided a comprehensive survey of the pertinent literature in economics and computer science and a critical discussion. Over the past three years, new insights have emerged from academic research. These new insights have not only deepened our understanding of the intricate relationship between algorithms and competition but also begun challenging some previous findings once considered compelling evidence supporting the plausibility of autonomous algorithmic tacit collusion. In this article, I discuss these new insights, with a focus on four topics: (1) the nuanced ways algorithms affect prices, (2) the crucial role of algorithmic design, (3) the consequences of third-party pricing algorithms, and (4) some considerations when assessing algorithmic impact in litigation.
Tackling Algorithmic Facilitated Tacit Collusion In A Proportionate Way
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Author : Paolo Siciliani
language : en
Publisher:
Release Date : 2018
Tackling Algorithmic Facilitated Tacit Collusion In A Proportionate Way written by Paolo Siciliani and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
For the use of price-matching algorithms to facilitate exploitative price coordination the common adoption by all rival online-sellers may be required. At the same time, this common course of conduct may be justified by the need to reduce the risk of being undercut and so being unable to recover fixed costs. Ultimately, antitrust enforcers should rely on established price-cost tests in order to establish when the use of such algorithms is illegitimate. The paper also questions whether e-marketplace platforms should face antitrust scrutiny if retailers use algorithms.
Algorithms Pricing
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Author : Céline Geissmann
language : en
Publisher:
Release Date : 2018
Algorithms Pricing written by Céline Geissmann and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.