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Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy (Hardback)
  • Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy (Hardback)

Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy (Hardback)

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Hardback 300 Pages / Published: 22/11/2016
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Ariel Ezrachi and Maurice Stucke take a hard look at today's app-assisted paradise of digital shopping. The algorithms and data-crunching that make online purchasing so convenient are also changing the nature of the market by shifting power into the hands of the few, with risks to competition, our democratic ideals, and our overall well-being.

Publisher: Harvard University Press
ISBN: 9780674545472
Number of pages: 300
Weight: 635 g
Dimensions: 156 x 235 x 28 mm

Virtual Competition provides an intriguing and provocative look at the potential dark side of big data and big analytics. The debate over digital competition is just beginning, and Ezrachi and Stucke have laid down a marker that is likely to capture wide attention.--Jonathan Levin, Stanford Graduate School of Business
[Ezrachi and Stucke] make 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...Virtual Competition displays a deep understanding of the internet world and is outstandingly researched.--Burton G. Malkiel"Wall Street Journal" (11/14/2016)
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. They make it clear that in a world of big data and algorithmic pricing, consumers are outgunned and antitrust laws are outdated, especially in the United States...We can hope the ideas discussed in Virtual Competition get on the political agenda.--Barry Nalebuff"Science" (11/04/2016)
This is a groundbreaking, critical work--a major contribution to the field of competition law.--Frank Pasquale, author of The Black Box Society
A fascinating book about how platform internet companies (Amazon, Facebook, and so on) are changing the norms of economic competition. Virtual Competition: The Promise and Perils of the Algorithm-Driven Economy argues that these companies, with their immense data advantage, are effectively making their own rules in the marketplace, beating back new market entrants, and disadvantaging customers.--Ben Schiller"Fast Company" (08/04/2017)
Ezrachi and Stucke provide a compelling analysis challenging the orthodoxy that modern technology empowers consumers. Their findings will send a shiver down the spine of consumers, businesses, public policy makers and anyone working in the competition field. Virtual Competition is a fast-paced, mind-boggling thriller that you can't put down; a thriller in which we are all set to be the victim.--Alan Giles, Sa�d Business School, University of Oxford

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