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Autonomous Algorithmic Collusion: Economic Research and Policy Implications

Assad, Stephanie; Calvano, Emilio; Calzolari, Giacomo; Clark, Robert; Denicolò, Vincenzo; Ershov, Daniel; Johnson, Justin; Pastorello, Sergio; Rhodes, Andrew; Xu, Lei; Wildenbeest, Matthijs
2021
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Description

Abstract: Markets are being populated with new generations of pricing algorithms, powered with artificial intelligence (AI), that have the ability to autonomously learn to operate. This ability can be both a source of efficiency and cause of concern for the risk that algorithms autonomously and tacitly learn to collude. In this paper we explore recent developments in the economic literature and discuss implications for policy.

Details

Resource Type
Journal Article
Series (Uniform Title)
Peer-Reviewed Publications
Publications à comité de lecture
DOI
https://doi.org/10.1093/oxrep/grab011
Title
Autonomous Algorithmic Collusion: Economic Research and Policy Implications
Creator
Assad, Stephanie (Queen's University)
Calvano, Emilio (University of Bologna)
Calzolari, Giacomo (European University Institute)
Clark, Robert (Queen’s University)
Denicolò, Vincenzo (University of Bologna, Italy)
Ershov, Daniel (Université Tolouse, France)
Johnson, Justin (Cornell University, USA)
Pastorello, Sergio (University of Bologna, Italy)
Rhodes, Andrew (Université Tolouse, France)
Xu, Lei (Bank of Canada)
Wildenbeest, Matthijs (Indiana University)
Publisher
Oxford University Press (OUP)
Date
2021-09-23
Published in
Oxford Review of Economic Policy
Volume
37
Issue
3
Pages
459 - 478
Language
English
Note
The views expressed in this paper are solely those of the authors and may differ from official Bank of Canada views. No responsibility for them should be attributed to the Bank.
JEL Codes
Publication Citation
Assad, S., E. Calvano, G. Calzolari et al. 2021. "Autonomous Algorithmic Collusion: Economic Research and Policy Implications." Oxford Review of Economic Policy 37 No. 3. https://doi.org/10.1093/oxrep/grab011.
Record Appears in
Bank of Canada Research > Peer-Reviewed Publications

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