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1 results

  • 7 - Personalized Prices and Contractual Controls in EU Consumer Law

  • from Part II - EU Law Perspectives on Price Personalization
  • Edited by Fabrizio Esposito, NOVA Law School (Portugal), Mateusz Grochowski, Tulane University, Louisiana
  • Book:
    The Cambridge Handbook of Algorithmic Price Personalization and the Law
    Published online:
    20 March 2025
    Print publication:
    27 March 2025, pp 165-191

  • Summary

    Machine learning and artificial intelligence (AI) allow collecting and processing massive amounts of data obtained from people’s online records. Data is of particular importance regarding consumers and their activity in online markets because it allows access to (many) consumers’ personal and family characteristics, as well as prior consumption history. This, in turn, grants the ability to derive design proxies about preferences, interests, and personal valuations of goods and services. Naturally, this has significant economic impact.

    Given the enormous size of the population of consumers, the use of big data, through AI, makes the approximation to individual consumer’s preferences, needs, concerns, and interests very accurate.