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That’s not what happens at all. What happens is when customers can see two gas station price signs at once, the prices go down because each competes. The gas st
by mattmaroon 3y ago
That’s not what happens at all. What happens is when customers can see two gas station price signs at once, the prices go down because each competes. The gas stations that don’t have another one near them have higher prices.
Everyone can see everyone else’s prices, it’s public info, it’s just a question of the amount of human labor involved. Automating it doesn’t change the result. Walmart sends humans into local target stores to price compare and vice versa.