News for hackers. Stuff that matters.
Re:Apple is struggling to become an AI powerhouse by freyir on Thursday June 08, 2017 @06:15PM (#14517587)
> You say "overpay" but if the user pays for it then that would have been an efficient price

This says nothing of the possibility that one party has a lot of information, and the other party has relatively little information, and the guy with very little information is getting screwed.

Re:Apple is struggling to become an AI powerhouse by AndrewKemendo on Thursday June 08, 2017 @06:20PM (#14517609)
The implicit assumption is that the service is charging your air fare or whatever based on your ability to pay. So in that sense, in aggregate, it drives equilibrium between supply and demand - and thus is comprised of market clearing prices, as I said.
Re:Apple is struggling to become an AI powerhouse by acover on Thursday June 08, 2017 @07:44PM (#14518085)
There is a difference between competitive single price and monopolistic pricing.
Re:Apple is struggling to become an AI powerhouse by smallnamespace on Thursday June 08, 2017 @07:43PM (#14518075)
Market clearing prices can strongly favor one party or another, depending on the information asymmetries present.