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Preface

PART 1. Setting the Scene
1. The Promise of a Better Competitive Environment
2. New Economic Reality: The Rise of Big Data and Big Analytics
3. Light Touch Antitrust
4. Looking beyond the Facade of Competition

PART 2. The Collusion Scenarios
5. The Messenger Scenario
6. Hub and Spoke
7. Tacit Collusion on Steroids: The Predictable Agent
8. Artificial Intelligence, God View, and the Digital Eye

PART 3. Behavioral Discrimination
9. Price Discrimination (Briefly) Explained
10. The Age of Perfect Price Discrimination?
11. The Rise of “Almost Perfect” Behavioral Discrimination
12. Behavioral Discrimination: Economic and Social Perspectives
13. The Comparison Intermediaries

PART 4. Frenemies
14. The Dynamic Interplay among Frenemies
15. Extraction and Capture
16. “Why Invite an Arsonist to Your Home?”: Understanding the Frenemy Mentality
17. The Future of Frenemy: The Rise of Personal Assistants

PART 5. Intervention
18. To Regulate or Not to Regulate
19. The Enforcement Toolbox

Final Reflections

Notes
Acknowledgments
Index

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Virtual competition : the promise and perils of the algorithm-driven economy 이용현황 표 - 등록번호, 청구기호, 권별정보, 자료실, 이용여부로 구성 되어있습니다.
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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 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.

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 beneficial--increased price transparency--ironically 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.

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