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Tim Doyle - 2 Jason Del Ray - 2 Nessie - 2 Doyle - 2 Jeff Bezos - 2 ” Doyle - 1 “ Nessie - 1 — - 1
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☆ Amazon Used an Algorithm to Essentially Raise Prices on Other Sites, the FTC Says
  + stars: | 2023-11-02 | by ( Associated Press | Nov. | At P.M. | ) www.usnews.com   time to read: +4 min
The FTC's excerpts say the tool - codenamed “Project Nessie” - has been used by Amazon to pinpoint products that will allow it to rake in more cash. The company used it to predict where it can raise prices and have other shopping sites follow suit. Amazon activated the algorithm to raise prices on some products, and when other sites followed its lead, it kept the elevated prices in place, the agency said. The agency said Amazon deployed Project Nessie in 2014 and has turned it on and off at least eight times between 2015 and 2019. In 2018 alone, Amazon used the algorithm to set prices for items that were viewed more than 400 million times by shoppers, according to the complaint.
Persons: Tim Doyle, ” Doyle, Jason Del Ray, Nessie, Doyle, “ Nessie, Jeff Bezos Organizations: Federal Trade Commission, FTC, Amazon, Wall Street Journal, Nessie
☆ Amazon used an algorithm to secretly prompt rival sites to raise prices, FTC alleges in antitrust lawsuit
  + stars: | 2023-11-02 | by ( Associated Press | ) www.businessinsider.com   time to read: +5 min
The FTC says Amazon used a tool to predict where it can raise prices and have rival sites follow suit. The company used it to predict where it can raise prices and have other shopping sites follow suit. Amazon activated the algorithm to raise prices on some products, and when other sites followed its lead, it kept the elevated prices in place, the agency said. The agency said Amazon deployed Project Nessie in 2014 and has turned it on and off at least eight times between 2015 and 2019. In 2018 alone, Amazon used the algorithm to set prices for items that were viewed more than 400 million times by shoppers, according to the complaint.
Persons: —, Tim Doyle, Doyle, Jason Del Ray, Nessie, Jeff Bezos Organizations: Federal Trade Commission, Amazon, FTC, Service, Wall Street Journal, Nessie
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