Charleston County Public Library

Virtual competition, the promise and perils of the algorithm-driven economy, Ariel Ezrachi, Maurice E. Stucke

eng

Includes bibliographical references and index

illustrations

index present

non fiction

Virtual competition

bibliography

946907251

Ariel Ezrachi, Maurice E. Stucke

the promise and perils of the algorithm-driven economy

"Shoppers with Internet access and a bargain-hunting impulse can find a universe of products at their fingertips. In this thought-provoking exposé, Ariel Ezrachi and Maurice Stucke invite us to take a harder look at today's app-assisted paradise of digital shopping. While consumers reap many benefits from online purchasing, the sophisticated algorithms and data-crunching that make browsing so convenient are also changing the nature of market competition, and not always for the better."--Front flap of jacket

Preface -- Part I: Setting the scene. The promise of a better competitive environment -- New economic reality: the rise of big data and big analytics -- Light touch antitrust -- Looking beyond the façade of competition -- Part II: The collusion scenarios. The messenger scenario -- Hub and spoke -- Tacit collusion on steroids: the predictable agent -- Artificial intelligence, God view, and the digital eye -- Part III: Behavioral discrimination. Price discrimination (briefly) explained -- The age of perfect price discrimination? -- The rise of "almost perfect" behavioral discrimination -- Behavioral discrimination: economic and social perspectives -- The comparison intermediaries -- Part IV: Frenemies. The dynamic interplay among frenemies -- Extraction and capture -- "Why invite an arsonist to your home?": understanding the frenemy mentality -- The future of frenemy: the rise of personal assistants -- Part V: Intervention. To regulate or not to regulate -- The enforcement toolbox -- Final reflections