U.K. competition watchdog probing use of 'dynamic pricing' in Oasis ticket debacle
https://www.cbc.ca/news/world/oasis-uk-watchdog-1.7314047

* surging prices during ticket sales
* businesses that use dynamic pricing/complex pricing need to be transparent about prices & not mislead customers
* Ticketmaster, official ticketing partner, did not respond to a Reuters request for comment

https://en.wikipedia.org/wiki/Ticketmaster

#Ticketmaster #AI #AlgorithmicPricing #DynamicPricing #corporations #CorporateGreed #inflation #PriceGouging #consumerism

/1

Capitalist response

Why Oasis fans should welcome price gouging 🤔
There are worse things in life than paying a fair price
https://www.economist.com/finance-and-economics/2024/09/05/why-oasis-fans-should-welcome-price-gouging

* non-paywalled: https://archive.fo/w4ojO

#Economist #capitalism #Ticketmaster #AI #AlgorithmicPricing #DynamicPricing #corporations #CorporateGreed #inflation #PriceGouging #consumerism

Anger over concert dynamic pricing
https://www.cbc.ca/news/business/marketplace-cheat-sheet-sep8-1.7315383

* Britain's competition watchdog, Competition & Markets Authority investigating Ticketmaster over sale of Oasis tickets
* dynamic pricing hiked cost to fans at last minute
* most thought they would pay advertised £148.50 ($264 CDN); ended up paying £355.20 ($632)

#AI #AlgorithmicPricing #DynamicPricing #corporations #CorporateGreed #TicketMaster #inflation #PriceGouging #consumerism #optimization #CostFunction #LossFunction #Oasis #CMA

Project Hammer: reduce collusion in Canadian grocery sector
https://news.ycombinator.com/item?id=41490143
https://jacobfilipp.com/hammer

* aim: incr. competition, reduce collusion
* database of historical grocery prices for academic analysis, legal action
* inform policy makers

Grocery costs: Why are stores owned by same companies charging different prices?
https://mastodon.social/@persagen/110631510600149202

Largest grocers making more on food sales: competition watchdog
https://mastodon.social/@persagen/110617219750954394

#Canada #grocers #oligarchy #Loblaws #Sobeys #Safeway

Record number Ontarians used food banks last year
Need for food banks, donations unprecedented: Feed Ontario
https://www.cbc.ca/news/canada/toronto/record-food-bank-users-ontario-1.7318170

* increase of 25%: 8-yr high
* food bank use rose dur. COVID-19 pandemic
* exacerbated by affordability crisis: inflation, rising housing costs, job market

Feed Ontario: https://en.wikipedia.org/wiki/Feed_Ontario

#Canada #Ontario #grocers #inflation #retail #grocers #greedglation #shrinkflation #poverty #FoodSecurity #FoodBanks #FeedOntario #oligarchy #Loblaws #Sobeys #Safeway

Cineplex fined $38.9M over $1.50 online booking fee
Online booking fee constituted drip pricing
https://www.cbc.ca/news/canada/british-columbia/cineplex-online-booking-fee-fine-1.7332024

* Competition Tribunal: Cineplex guilty of deceptive marketing practices
* drip pricing: https://en.wikipedia.org/wiki/Drip_pricing

[Feb 2024] Cineplex made $40M from online ticket fees @ heart of drip-pricing lawsuit
https://www.cbc.ca/news/business/cineplex-online-booking-fees-competition-1.7126860

#Canada #Cineplex #DripPricing #DynamicPricing #corporations #CorporateGreed #deception #capitalism #PriceGouging #consumerism #optimization #AddonFees