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OMG Algos gonna take over the world, Don't Like This Price? Wait a Minute

By: capt_nemo in ROUND | Recommend this post (0)
Wed, 05 Sep 12 10:34 AM | 46 view(s)
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BY JULIA ANGWIN AND DANA MATTIOLI

The fast-moving Internet pricing games used by airlines and hotels are now moving deeper into the most mundane nooks of the consumer economy.

Deploying a new generation of algorithms, retailers are changing the price of products from toilet paper to bicycles on an hour-by-hour and sometimes minute-by-minute basis.

The pricing wars were fought last month over a General Electric microwave oven. Sellers on Amazon.com Inc. changed its price nine times in one day, with the price fluctuating between $744.46 and $871.49, according to data compiled by consumer-price research firm Decide Inc. for The Wall Street Journal. Best Buy Inc. responded ...

http://online.wsj.com/article/SB10000872396390444914904577617333130724846.html?mod=pls_whats_news_us_business_f

Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.

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