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Stock impact report

How much will you pay? Colorado lawmakers say companies are surveilling us to set individualized prices [CBS News]

Ibotta, Inc. Class A (IBTA) 
Company Research Source: CBS News
They say companies are using our browsing and buying history to set individualized prices on everything from groceries to plane tickets based on what they think a person can afford or is willing to pay. It's called surveillance pricing , and Democratic state Reps. Javier Mabry and Jennifer Bacon plan to put a stop to it. "You can't budget when the price of the same item changes based on who's looking at it. You can't plan when your paycheck is determined by an algorithm you can't see," Mabrey told the House Business Affairs committee. He says, instead of the law of supply and demand, companies are using our individual pain points. "What you are going through, how desperate you may be at any given moment — that's not the free market," he said. He says companies are surveilling everything from the websites we visit and the products we purchase to where we live and what we do for a living. He says all that information is analyzed by a price-setting algorithm that generates a p Show less Read more
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