Senator Klobuchar says legal challenges exist in algorithmic price fixing cases at Senate hearing

Minnesota Senator Amy Klobuchar and Brookings Institution Visiting Fellow Bill Baer discuss challenges of proving algorithmic price-fixing agreements in court and propose solutions, suggesting that antitrust agencies should develop data to demonstrate such practices, relying on the evolution of antitrust law and the importance of proving the knowing use of similar pricing algorithms, the possibility of legislation to modify Section 1 of the Sherman Act, directing courts to consider the anticompetitive impact of common use of pricing algorithms in the same market, with reference to recent FTC action against Amazon for alleged illegal monopolization involving the use of price scraping tools and algorithms at a Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights hearing.
Minnesota Senator Amy Klobuchar and Brookings Institution Visiting Fellow Bill Baer discuss challenges of proving algorithmic price-fixing agreements in court and propose solutions, suggesting that antitrust agencies should develop data to demonstrate such practices, relying on the evolution of antitrust law and the importance of proving the knowing use of similar pricing algorithms, the possibility of legislation to modify Section 1 of the Sherman Act, directing courts to consider the anticompetitive impact of common use of pricing algorithms in the same market, with reference to recent FTC action against Amazon for alleged illegal monopolization involving the use of price scraping tools and algorithms at a Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights hearing.
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Editorial use only. May not be used as partisan political campaign material to promote or oppose the candidacy of any person for elective public office and may not be used to distort the objects and purposes of the hearing or to discredit or dishonour any member of the House or bring the House or any Member into disrepute. Contact your local office for all commercial or promotional uses.
Credit:
FedNet / Getty Images
Editorial #:
1864475373
Collection:
FedNet
Date created:
13 December, 2023
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Rights-ready
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Clip length:
00:01:10:07
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Washington, DC, United States
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MPEG-4 8-bit H.264 HD 1920x1080 29.97p
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FedNet
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sju121323ze