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Virtual Competition: The Promise And Perils Of The Algorithmdriven Economy
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Shoppers With Internet Access And A Bargainhunting Impulse Can Find A Universe Of Products At Their Fingertips. In This Thoughtprovoking Expos, Ariel Ezrachi And Maurice Stucke Invite Us To Take A Harder Look At Todays Appassisted Paradise Of Digital Shopping. While Consumers Reap Many Benefits From Online Purchasing, The Sophisticated Algorithms And Datacrunching 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 Longstanding Laws Prevent Companies From Fixing Prices, Datadriven 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 Superplatforms And Their Frenemy Relationship With Independent App Developers Raises A Third Danger. By Controlling Key Platforms (Such As The Operating System Of Smartphones), Datadriven 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 Wellbeing.
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- Q: What is the binding of this book? A: This book has a hardcover binding. Hardcover books are durable and often preferred for their longevity.
- Q: How many pages does the book have? A: The book contains three hundred sixty-eight pages. This length allows for an in-depth exploration of its themes.
- Q: What are the dimensions of the book? A: The book measures six point five inches in length, one point two six inches in width, and nine point seven six inches in height. These dimensions make it a standard size for easy handling.
- Q: Who is the author of this book? A: The author of this book is Maurice E. Stucke. He is known for his expertise in competition law and economic analysis.
- Q: What is the main topic of the book? A: The main topic is the impact of algorithms on the economy and market competition. It critically examines both the benefits and risks of an algorithm-driven economy.
- Q: Is this book suitable for academic research? A: Yes, this book is suitable for academic research. It provides a comprehensive analysis of current economic issues related to digital shopping and competition.
- Q: How does the book address consumer safety? A: The book discusses risks such as behavioral discrimination and algorithmic collusion. These topics highlight potential dangers consumers face in a digital marketplace.
- Q: What themes are explored in this book? A: Themes include market manipulation, consumer behavior, and the power dynamics of digital platforms. The authors delve into how these factors affect competition.
- Q: Is this book appropriate for general audiences? A: Yes, the book is appropriate for general audiences. It is written in an accessible manner while providing critical insights into complex economic issues.
- Q: Are there practical examples in the book? A: Yes, the book includes practical examples of algorithm-driven practices in e-commerce. These examples illustrate the real-world implications of its analysis.
- Q: What should I do to keep the book in good condition? A: To keep the book in good condition, store it upright in a cool, dry place. Avoid exposing it to direct sunlight and moisture.
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- Q: How do I care for the hardcover binding? A: To care for the hardcover binding, avoid bending the covers and keep the book away from moisture. This will help preserve its structural integrity.
- Q: Is there a warranty for this book? A: Books typically do not come with a warranty. However, check with the seller for any guarantees regarding quality or condition.
- Q: What is the genre of this book? A: The genre of this book is non-fiction, specifically focusing on economics and competition law. It is aimed at readers interested in these fields.