Price fixing is a form of collusion, and it’s a crime - even if the sellers can claim they didn’t all sit down in a room together.
Phoenix apartments had an inflated housing market that was caused by price fixing. The property management used software to set rental prices, and the terms of service required them to use the prices suggested. None of the managers individually spoke to each other, but the software algorithmically inflated rent based on what other properties could get away with charging.
Just because they speak to someone through a computer program doesn’t mean it’s any different. Free market ideology requires us to pretend price fixing cartels don’t exist but in reality they’re everywhere
Price fixing is a form of collusion, and it’s a crime - even if the sellers can claim they didn’t all sit down in a room together.
Phoenix apartments had an inflated housing market that was caused by price fixing. The property management used software to set rental prices, and the terms of service required them to use the prices suggested. None of the managers individually spoke to each other, but the software algorithmically inflated rent based on what other properties could get away with charging.
https://www.azag.gov/press-release/arizona-attorney-general-announces-1-million-settlement-weidner-property-management
Just because they speak to someone through a computer program doesn’t mean it’s any different. Free market ideology requires us to pretend price fixing cartels don’t exist but in reality they’re everywhere