Game Theory, Algorithms and High Prices
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Game Theory, Algorithms and High Prices
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How do sellers decide how to price their goods? Competition should keep prices down, while collusion can rig higher prices (and break the law). On this week’s episode, host Samir Patel speaks with staff writer Ben Brubaker about how computer scientists are using game theory to see how algorithms might result in high prices without shady backroom deals. This topic was covered in a recent story for Quanta Magazine.
Each week on The Quanta Podcast, Quanta Magazine editor in chief Samir Patel speaks with the people behind the award-winning publication to navigate through some of the most important and mind-expanding questions in science and math.
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Audio coda from FDR Presidential Library & Museum.
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