Odd Lots Corporations Learned The Maximum Amount They Can Charge For a Product
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Jun 3, 2024 
Lindsay Owens, executive director of the Groundwork Collaborative and author of "Gouge," joins David Dayen, executive editor of The American Prospect, to dissect the world of corporate pricing. They reveal how algorithms and data are reshaping what consumers pay for everyday items like hamburgers, highlighting the impact of gamification and dynamic pricing. The discussion touches on ethical concerns surrounding personalized pricing, the challenges it poses for lower-income consumers, and the widening economic disparities in pricing strategies.
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New Era of Pricing
- Companies are using algorithms, apps, and personalized data to maximize prices.
- This new era of pricing strategies impacts the economy and raises fairness and privacy concerns.
Algorithmic Pricing Industry
- A growing industry of algorithmic pricing companies helps retailers optimize price increases.
- These companies advise on maintaining higher prices and reacting to competitors, facilitated by big data and online shopping.
Data Aggregators and Price Fixing
- The airline industry uses ATPCO to collect real-time fare data, enabling price adjustments.
- Similar data aggregation occurs in meatpacking and rental markets, raising antitrust concerns.
