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If you replace ‘an algorithm’ with ‘a guy named bob’ and the scheme sounds illegal, it should be illegal. If every landlord in town all went to a guy named Bob

If you replace ‘an algorithm’ with ‘a guy named bob’ and the scheme sounds illegal, it should be illegal. If every landlord in town all went to a guy named Bob to ask what they should set their prices at, that would be illegal collusion.

s1artibartfast 3y ago
That isn't illegal tho. It is common. Most industries publish pricing data and targets. Hell, by that metric the stock market is collision.
- pphysch 3y ago
  Yes, cartels/trade associations are common. I don't really care whether there is a cartel for paperclips. It doesn't mean they are okay when it comes to critical sector like housing!
  - s1artibartfast 3y ago
    information sharing isn't collusion and isnt a cartel. It is only a cartel when there is agreement to fix prices.
    - pphysch 3y ago
      And yet our capitalist society discourages laborers from sharing information about their wages (labor price). Wonder why that is... Information sharing is an integral component of cartel behavior, especially when it's highly structured in cartel software like RealPage. Where there's smoke, there's probably fire.
      - s1artibartfast 3y ago
        disagree. Information sharing is also part of price discovery in every single market, legal or illegal. Information sharing is a necessary but insufficient component of cartel behavior.
      - randomdata 3y ago
        > Wonder why that is... Because selling labour is the most cut-throat business there is. To the point that we had to create extensive labour laws to stop the bleeding that always ensues when unencumbered labourers start competing with each other. Revealing price information to your competition puts you at a competitive disadvantage. If they know you charge $30 per hour, they'll jump in and offer to do it for $29 per hour. Conversely, if they don't know how much you charge, they are left to guess. If they think you charge $35 per hour, they'll offer $34 per hour, but then you'll win as you charge $30 per hour. Obviously you are disadvantaged if you let that information be known. Especially if they can withhold their information from you. No business wants to reveal price before they have to. Retail has to get the price out there early as it is the only way to get customers in the door, but businesses will keep things as close to their chest as possible. Try buying anything geared towards enterprise customers... In fact, ideally, they will leave the customer make the first offer as it is also a disadvantage to go first.
        s1artibartfast 3y ago
        That depends entirely on the balance of supply and demand. If there are 10 firms chasing 9 employees, more information will drive up prices. IF there are 10 employees chasing 9 jobs, more information will drive down prices.
        randomdata 3y ago
        Quite true. The former situation is rare, though. Even when it appears that there are 10 firms chasing 9 employees, a 10th is likely to materialize when they find out where the other vendors are situated, diminishing the opportunity for the 9 that were already in line.
        s1artibartfast 3y ago
        It isn't that rate. This phenomenon is the reason that every single job doesn't pay the minimum salary required by law.

s1artibartfast 3y ago

That isn't illegal tho. It is common. Most industries publish pricing data and targets. Hell, by that metric the stock market is collision.

pphysch 3y ago
Yes, cartels/trade associations are common. I don't really care whether there is a cartel for paperclips. It doesn't mean they are okay when it comes to critical sector like housing!
- s1artibartfast 3y ago
  information sharing isn't collusion and isnt a cartel. It is only a cartel when there is agreement to fix prices.
  - pphysch 3y ago
    And yet our capitalist society discourages laborers from sharing information about their wages (labor price). Wonder why that is... Information sharing is an integral component of cartel behavior, especially when it's highly structured in cartel software like RealPage. Where there's smoke, there's probably fire.
    - s1artibartfast 3y ago
      disagree. Information sharing is also part of price discovery in every single market, legal or illegal. Information sharing is a necessary but insufficient component of cartel behavior.
    - randomdata 3y ago
      > Wonder why that is... Because selling labour is the most cut-throat business there is. To the point that we had to create extensive labour laws to stop the bleeding that always ensues when unencumbered labourers start competing with each other. Revealing price information to your competition puts you at a competitive disadvantage. If they know you charge $30 per hour, they'll jump in and offer to do it for $29 per hour. Conversely, if they don't know how much you charge, they are left to guess. If they think you charge $35 per hour, they'll offer $34 per hour, but then you'll win as you charge $30 per hour. Obviously you are disadvantaged if you let that information be known. Especially if they can withhold their information from you. No business wants to reveal price before they have to. Retail has to get the price out there early as it is the only way to get customers in the door, but businesses will keep things as close to their chest as possible. Try buying anything geared towards enterprise customers... In fact, ideally, they will leave the customer make the first offer as it is also a disadvantage to go first.
      - s1artibartfast 3y ago
        That depends entirely on the balance of supply and demand. If there are 10 firms chasing 9 employees, more information will drive up prices. IF there are 10 employees chasing 9 jobs, more information will drive down prices.
        randomdata 3y ago
        Quite true. The former situation is rare, though. Even when it appears that there are 10 firms chasing 9 employees, a 10th is likely to materialize when they find out where the other vendors are situated, diminishing the opportunity for the 9 that were already in line.
        s1artibartfast 3y ago
        It isn't that rate. This phenomenon is the reason that every single job doesn't pay the minimum salary required by law.