Anger over concert dynamic pricing
https://www.cbc.ca/news/business/marketplace-cheat-sheet-sep8-1.7315383

* Britain's competition watchdog, Competition & Markets Authority investigating Ticketmaster over sale of Oasis tickets
* dynamic pricing hiked cost to fans at last minute
* most thought they would pay advertised £148.50 ($264 CDN); ended up paying £355.20 ($632)

#AI #AlgorithmicPricing #DynamicPricing #corporations #CorporateGreed #TicketMaster #inflation #PriceGouging #consumerism #optimization #CostFunction #LossFunction #Oasis #CMA

[thread] algorithmic pricing, dynamic pricing
https://en.wikipedia.org/wiki/Algorithmic_pricing

* automatically setting price to maximize seller's profits

[thread] affordable housing | private equity, corporations, corporate greed, inflation, profiteering
https://mastodon.social/@persagen/110543876769745739

Canadian mega landlord Dream Unlimited using AI pricing to massively hike rents
https://mastodon.social/@persagen/113080600389935351

#AI #AlgorithmicPricing #DynamicPricing #corporations #inflation #PriceGouging #consumerism #optimization #CostFunction #LossFunction

Grocery costs: Why are stores owned by same companies charging different prices?
https://bc.ctvnews.ca/grocery-costs-why-are-stores-owned-by-the-same-companies-charging-different-prices-1.6462492

Comment: I am betting (just a suspicion) that this is algorithmic pricing.

Machine learning is largely based on mathematical optimization (mathematical modeling) - minimizing cost / loss functions. It's not necessarily ML at play here, but likely the same types of models fed with socioeconomic, historical. other data (parameters)
...

#greedflation #FoodSecurity #CostFunction #LossFunction

Artificial Intelligence Is Making Housing Crisis Worse
Landlords are using AI to screen their tenants, heightening errors and discrimination

Landlords are using private equity-backed artificial intelligence screening programs to select tenants [rents ...]

#AlgorithmicPricing #CostFunction #optimization #EconomicInequality #BlackStone #Fundrise #JPMorganChase #RealPage #PrivateEquity

https://persagen.com >> search:
"affordable housing" AND "private equity"
"affordable housing"
realpage

from the standpoint of model selection, parsimony often boils down to dimensionality reduction

#modelSelection #parsimony #OccamsRazor #dimensionalityReduction #degreesOfFreedom #complexity #informationTheory #biasVarianceTradeoff #overfitting #underfitting #optimization #parameterTuning #crossValidation #inverseProblems #inference #statisticalLearning #machineLearning #ML #dataScience #modeling #decisionTheory #fitting #regression #classification #residualError #costFunction #performanceLoss