518
Unredacted FTC suit shows 'Project Nessie' price-raising algorithm made Amazon $1.4B
(techcrunch.com)
this post was submitted on 02 Nov 2023
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Price fixing, whether explicit or implied from conduct, is absolutely something anti-trust regulations were designed to prevent.
Price fixing involves multiple companies working together
Which is exactly what was described in the article.
Mmm no its describing an algorithm of raising prices for their own products
Yes, which is the price-fixing I was talking about. There doesn't need to be an overt agreement to fall under price fixing.
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.
Go ahead and tell the FTC that you know the law better than they do.
let them tell you https://www.ftc.gov/advice-guidance/competition-guidance/guide-antitrust-laws/dealings-competitors/price-fixing
And yet, they are the ones accusing Amazon of price fixing.
Like I said, go tell them that they got it wrong.