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Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B (techcrunch.com)

submitted 10 months ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 10 months ago* (last edited 10 months ago) (1 children)

Which is exactly what was described in the article.

[–] [email protected] -1 points 10 months ago (1 children)

Mmm no its describing an algorithm of raising prices for their own products

[–] [email protected] 1 points 10 months ago (1 children)

Yes, which is the price-fixing I was talking about. There doesn't need to be an overt agreement to fall under price fixing.

[–] [email protected] 0 points 10 months ago (1 children)

It does need at least an implied agreement of companies intentionally working together to raise prices. A computer program to determine your own prices does not imply working with any other company.

[–] [email protected] 1 points 10 months ago* (last edited 10 months ago) (1 children)

Go ahead and tell the FTC that you know the law better than they do.

[–] [email protected] -1 points 10 months ago (1 children)

let them tell you https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/dealings-competitors/price-fixing

Price fixing is an agreement (written, verbal, or inferred from conduct) among competitors to raise, lower, maintain, or stabilize prices or price levels. Generally, the antitrust laws require that each company establish prices and other competitive terms on its own, without agreeing with a competitor.

[–] [email protected] 1 points 10 months ago* (last edited 10 months ago)

And yet, they are the ones accusing Amazon of price fixing.

Like I said, go tell them that they got it wrong.