Are we only seeing the kind of news we want to see on social media? What effects do personalized algorithms have on our perception of news quality? Do algorithms help us serendipitously encounter ...

The original version of this story appeared in Quanta Magazine. Imagine a town with two widget merchants. Customers prefer cheaper widgets, so the merchants must compete to set the lowest price.

Companies are increasingly using pricing algorithms and other AI systems to develop and improve their ability to promptly respond to market conditions, innovate product offerings, and set prices.