3 ms·
> It seems like a really powerful way to price products, but no one appears to do it. In a closed system. There are too many factors obfuscating the landscape
by stagbeetle 10y ago
> It seems like a really powerful way to price products, but no one appears to do it.
In a closed system. There are too many factors obfuscating the landscape in real markets (most notably consumer access).
The only tidbit is, in a new market you can overcharge.
- fnbr 10y ago> There are too many factors obfuscating the landscape in real markets On the one hand, yes, but on the other hand, machine learning gives us a powerful set of tools to analyse these factors, which we could use to come up with a model that learns from the market to predict consumer surplus (but you're right about the naive economist approach).