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Senate committee hears bill to ban price‑fixing algorithms, citing rental market impact
Summary
Senator Blessing and joint sponsor Senator Blackshear presented sponsor testimony to the Senate Financial Institutions, Insurance and Technology Committee on Senate Bill 79, legislation that would amend Ohio's Valentine Act to clarify that price fixing carried out by algorithms trained on nonpublic data constitutes unlawful price fixing.
Senator Blessing and joint sponsor Senator Blackshear presented sponsor testimony to the Senate Financial Institutions, Insurance and Technology Committee on Senate Bill 79, legislation that would amend Ohio's Valentine Act to clarify that price fixing carried out by algorithms trained on nonpublic data constitutes unlawful price fixing.
Blessing told the committee the bill "bans the use of price fixing algorithms" and would add oversight to the use of such tools. He said price fixing using nonpublic competitor data is effectively collusion even when it occurs through software rather than direct agreements among businesses.
During testim…
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