Vietnam.vn - Nền tảng quảng bá Việt Nam

Amazon uses secret algorithm to increase prices?

Báo Thanh niênBáo Thanh niên04/10/2023


Amazon dùng thuật toán bí mật để tăng giá? - Ảnh 1.

Amazon shipping containers at Miami International Airport (Florida, USA)

The Wall Street Journal reported on October 3 that Amazon has deployed a secret algorithm to assess how high it can raise prices while competitors can still raise prices.

The algorithm, dubbed Project Nessie, was first revealed late last month in a complaint filed by the US Federal Trade Commission (FTC), accusing the e-commerce giant of violating the country's antitrust laws.

Project Nessie will raise prices and monitor whether other retailers like Target follow suit. If competing retailers maintain lower prices, the algorithm will automatically bring Amazon’s prices back to normal.

Nessie allegedly helped Amazon increase profits by raising prices until the company stopped using it in 2019

“We again urge Amazon to act quickly to eliminate the cover-up and allow the American public to see the full extent of what we allege are its unlawful monopolistic practices,” said FTC spokesman Douglas Farrar.

Project Nessie is just one of several allegations the FTC has leveled against Amazon for illegally maintaining its dominance in the e-commerce industry.

In a September FTC complaint, Amazon was accused of using a variety of methods, such as being down-listed, to prevent sellers from offering products at lower prices on competing platforms.

Commenting on the lawsuit, Amazon said the FTC was "wrong on the facts and the law" and said it would make that case in court.



Source link

Comment (0)

No data
No data
Lotus blooming season attracts tourists to the majestic mountains and rivers of Ninh Binh
Cu Lao Mai Nha: Where wildness, majesty and peace blend together
Hanoi is strange before storm Wipha makes landfall
Lost in the wild world at the bird garden in Ninh Binh
Pu Luong terraced fields in the pouring water season are breathtakingly beautiful
Asphalt carpets 'sprint' on North-South highway through Gia Lai
PIECES of HUE - Pieces of Hue
Magical scene on the 'upside down bowl' tea hill in Phu Tho
3 islands in the Central region are likened to Maldives, attracting tourists in the summer
Watch the sparkling Quy Nhon coastal city of Gia Lai at night

Heritage

Figure

Business

No videos available

News

Political System

Local

Product