Data, Prices, and Consumer Choice in Algorithmic Markets

Algorithmic pricing, central to market dynamics, is rapidly changing the nature of consumerindustry relationship and competition strategy. This paper is an exploration of consumer perspectives, attitudes and awareness regarding the use of algorithmic pricing by firms and assess their trust, willingness to pay and general perceptions surrounding ethical concerns with respect to its use. It is aimed at highlighting the consumer perceptions and awareness since algorithmic pricing impacts consumers in ways that are continuously emerging aided by technological advancements. This is a mixed-methods research relying on both quantitative and qualitative methods and using cross-sectional data analysis. It explores the correlations between different variables and suggests existing gaps in awareness and trust factors despite some awareness about algorithmic pricing. Findings suggest that policy gaps exacerbate ethical concerns that widen the awareness gap among consumers.