AI-informed, buyer-side floating or auction pricing
Most social challenges such as inequality can be alleviated through prices
The social challenges we face today are largely rooted in economics and resources. One potential solution to these problems is floating prices or auction prices in retail. These prices would provide transparency and fairness, efficiency, greater choice, and reduced inequality by allowing buyers and sellers to access goods and services at more affordable prices. However, there are potential challenges that need to be addressed before implementing such a system.
One challenge is the significant change in the way retail transactions are currently conducted, which could lead to increased price volatility. To mitigate this, a combination of floating prices or auction prices and index pricing could be used. For example, the price of a product could be determined by an auction, but also be capped at a certain level based on the price of a basket of similar products. This would help ensure that prices do not become too volatile.
Another way to mitigate price volatility is to use technology to p…
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