This piece has been authored by Lokesh Vyas, a fourth year law student at Institute of Law, Nirma University, Ahmedabad. Here, he gives a lucid explanation of issues posed by the increasing use of algorithms.
The Cloak of Algorithms
Unlike the traditional market, the digital economy does not have any geographical limits. Thus, there is fierce competition among all the players. However, due to the unequal availability of resources, it is becoming increasingly difficult for new aspirants to join the market. The use of pricing algorithms, presently adversely affects the present landscape of online retail.