Download Virtual Competition The Promise and Perils of the Algorithm-Driven Economy

[Free Download.c7gF] Virtual Competition The Promise and Perils of the Algorithm-Driven Economy

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Shoppers with Internet access and a bargain-hunting impulse can find a universe of products at their fingertips. In this thought-provoking expos, Ariel Ezrachi and Maurice Stucke invite us to take a harder look at todays 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.Computers colluding is one danger. Although long-standing laws prevent companies from fixing prices, data-driven algorithms can now quickly monitor competitors prices and adjust their own prices accordingly. So what is seemingly beneficialincreased price transparencyironically can end up harming consumers. A second danger is behavioral discrimination. Here, companies track and profile consumers to get them to buy goods at the highest price they are willing to pay. The rise of super-platforms and their frenemy relationship with independent app developers raises a third danger. By controlling key platforms (such as the operating system of smartphones), data-driven monopolies dictate the flow of personal data and determine who gets to exploit potential buyers.Virtual Competition raises timely questions. To what extent does the invisible hand still hold sway In markets continually manipulated by bots and algorithms, is competitive pricing an illusion Can our current laws protect consumers The changing market reality is already shifting power into the hands of the few. Ezrachi and Stucke explore the resulting risks to competition, our democratic ideals, and our economic and overall well-being. Sue Halpern The New York Review of Books Sue Halpern is a regular contributor to The New York Review and a Scholar-in-Residence at Middlebury Her latest book is A Dog Walks into a Nursing Home Monitoring and Evaluation NEWS Context: This report represents a basis for integrating big data and data analytics in the monitoring and evaluation of development programmes They Have Right Now Another You by Sue Halpern The Peter Thiel speaking at the Republican National Convention Cleveland July 2016 Thiel the first outside investor in Facebook and a cofounder of PayPal is a
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