Amazon reportedly used a secret algorithm to jack up prices — A new report details Amazon’s Project Nessie pricing algorithm::Amazon deployed a secret algorithm to gauge how high it could raise prices before its competitors stopped increasing their prices as well.

    • gastationsushi@lemmy.world
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      1 year ago

      Because demand based prices is manipulative bullshit from corporations.

      In Oklahoma during that 2021 winter storm, demand based pricing charged power companies billions for natural gas, this in turn caused rolling blackouts until Oklahoma disconnected from the Texas. The charges were over 100x the normal rate, consumers are still playing for that winter storm with an extra surcharge which I’m guessing will stay there for a long as time.

      Mind you this was caused by Texas based energy companies cheaping out when they deployed their infrastructure. And these same companies either get bailed out by the people or get windfall profits for fucking up. There is no justification for this type of pricing model.