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Algorithms and economic competition in the digital environment
Published on: November 29, 2024
Digital Economy
Prepared by:
General Directorate of Digital Markets
Summary
The document explores the impact of algorithms on digital markets, highlighting their usefulness in enhancing services and competition. It addresses the use of algorithms in digital platforms, such as recommendations and price setting, their benefits, including cost reduction and innovation, as well as associated risks, such as collusion, abuse of market power, and dark patterns that affect consumers. Regulatory strategies to mitigate these risks and ensure fair competition are also discussed.
Keywords: Cofece, data, digital economy, economic competition, algorithms, economic competition, digital economy, digital markets, artificial intelligence, machine learning, algorithmic collusion, dynamic pricing, digital platforms, algorithmic risks, digital monopolies
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