Virtual Competition
Shoppers with a bargain-hunting impulse and internet access can find a universe of products at their fingertips. But is there a dark side to internet commerce?
This thought-provoking exposé invites us to explore how sophisticated algorithms and data-crunching are changing the nature of market competition, and not always for the better.
Introducing into the policy lexicon terms such as algorithmic collusion, behavioral discrimination, and super-platforms, Ariel Ezrachi and Maurice E. Stucke explore the resulting impact on competition, our democratic ideals, our wallets, and our well-being.
Among Nature magazine’s highlights of the Fall 2019 season’s paperback releases.
Times Higher Education magazine Book of the Week (2017)
“A fascinating book about how platform internet companies (Amazon, Facebook, and so on) are changing the norms of economic competition.”
―Fast Company
“We owe the authors our deep gratitude for anticipating and explaining the consequences of living in a world in which black boxes collude and leave no trails behind.”
― Science
“A convincing argument that there can be a darker side to the growth of digital commerce. The replacement of the invisible hand of competition by the digitized hand of internet commerce can give rise to anticompetitive behavior that the competition authorities are ill equipped to deal with.”
― Burton G. Malkiel, Wall Street Journal
“A convincing case for the need to rethink competition law to cope with algorithmic capitalism’s potential for malfeasance.”
― John Naughton, The Observer