FTC and DOJ File Statement of Interest in Hotel Room Algorithmic Price-Fixing Case

The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.

Metadata
Provider: 
FTCFTC
URL: 
https://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-doj-file-statement-interest-hotel-room-algorithmic-price-fixing-casehttps://www.ftc.gov/news-events/news/press-releases/2024/03/ftc-doj-file-statement-interest-hotel-room-algorithmic-price-fixing-case
Retrieved on: 
Tuesday, April 2, 2024
Information
Tags: 
Caesars Entertainment, Risk, Commission, Sherman Antitrust Act, Algorithm, Meat, Social media, Blog, News, Justice, Federal Trade Commission, FTC
Summary
Key Points: 
  • The agencies have a strong interest in protecting consumers from algorithmic collusion, and their statement provides guidance to any firm that uses an algorithm to set prices.
  • The agencies recently filed a statement of interest in an algorithmic price-fixing case in the residential housing market, and the Justice Department’s Antitrust Division filed a statement of interest and memorandum of law in another real estate algorithmic price-fixing case last year.
  • The Commission vote approving the filing of the statement of interest was 3-0-1, with Commissioner Holyoak not participating.
  • For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.
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