One Person One Price

Source: American Prospect
by David Dayen

“Six years ago, I was at a conference at the University of Chicago, the intellectual heart of corporate-friendly capitalism, when my eyes found the cover of the Chicago Booth Review, the business school’s flagship publication. ‘Are You Ready for Personalized Pricing?’ the headline asked. I wasn’t, so I started reading. The story looked at how online shopping, persistent data collection, and machine-learning algorithms could combine to generate the stuff of economist dreams: individual prices for each customer. It even recounted an experiment in 2015, where online employment website ZipRecruiter essentially outsourced its pricing strategy to two U of Chicago economists, Sanjog Misra and Jean-Pierre Dubé. ZipRecruiter had previously charged businesses one fixed monthly price for its job-screening services.” (06/04/24)