What is Amazon's Nessie project and why it's facing a US ‘problem’
What is Amazon's Nessie project and why it's facing a US ‘problem’
The US Federal Trade Commission (FTC) has accused Amazon of manipulating online prices and boosting profits through illegal strategies. The regulator claims that Amazon used a secret algorithm called Project Nessie to identify products for which it could predict if competitors would follow if prices were increased. The lawsuit alleges that Amazon raised prices for tracked products and continued to sell them at inflated prices, resulting in $1 billion in excess profit.
The US Federal Trade Commission (FTC) has accused Amazon of manipulating online prices and boosting profits through illegal strategies. The regulator claims that Amazon used a secret algorithm called Project Nessie to identify products for which it could predict if competitors would follow if prices were increased. The lawsuit alleges that Amazon raised prices for tracked products and continued to sell them at inflated prices, resulting in $1 billion in excess profit.
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The US Federal Trade Commission (FTC) has accused Amazon of manipulating online prices and boosting profits through illegal strategies. The regulator claims that Amazon used a secret algorithm called Project Nessie to identify products for which it could predict if competitors would follow if prices were increased. The lawsuit alleges that Amazon raised prices for tracked products and continued to sell them at inflated prices, resulting in $1 billion in excess profit. 
