G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15880
DP15880 Artificial intelligence and Pricing: The Impact of Algorithm Design
John Asker; Chaim Fershtman; Ariel Pakes
发表日期2021-03-03
出版年2021
语种英语
摘要The behavior of artificial intelligences algorithms (AIAs) is shaped by how they learn about their environment. We compare the prices generated by AIAs that use different learning protocols when there is market interaction. Asynchronous learning occurs when the AIA only learns about the return from the action it took. Synchronous learning occurs when the AIA conducts counterfactuals to learn about the returns it would have earned had it taken an alternative action. The two lead to markedly different market prices. When future profits are not given positive weight by the AIA, synchronous updating leads to competitive pricing, while asynchronous can lead to pricing close to monopoly levels. We investigate how this result varies when either counterfactuals can only be calculated imperfectly and/or when the AIA places a weight on future profits.
主题Industrial Organization
URLhttps://cepr.org/publications/dp15880
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544872
推荐引用方式
GB/T 7714
John Asker,Chaim Fershtman,Ariel Pakes. DP15880 Artificial intelligence and Pricing: The Impact of Algorithm Design. 2021.
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