A Review of the Phenomenon of Algorithm-facilitated Systematic Price Discrimination

Abstract

As the Internet environment has rapidly developed, algorithms and programs have contributed to an ever-increasing level of convenience in day-to-day life. However, it is of the utmost importance to put an end to discriminatory pricing practices that are brought about by improper application of algorithms. Some retailers employ a strategy known as algorithmic price discrimination in order to boost their profits; nevertheless, this strategy has unfavorable effects on both the consumers' right to privacy and the reputation of the Internet. In order to achieve social and economic justice, it is essential and urgent to do away with algorithmic price discrimination. The purpose of this study is to have a better understanding of the current situation of algorithmic price discrimination by analyzing its history and discussing it. In addition, the research offers actions that authorities can take and measures that might be implemented in order to combat algorithmic price discrimination.