@techreport{db86c7d67e5145a9a680c8c269b33c44,
title = "Artificial Collusion: Examining Supracompetitive Pricing by Q-Learning Algorithms",
abstract = "We examine recent claims that a particular Q-learning algorithm used by competitors 'autonomously' and systematically learns to collude, resulting in supracompetitive prices and extra profits for the firms sustained by collusive equilibria. A detailed analysis of the inner workings of this algorithm reveals that there is no immediate reason for alarm. We set out what is needed to demonstrate the existence of a colluding price algorithm that does form a threat to competition.",
keywords = "Collusion, Q-learning, Algorithm, Pricing",
author = "{den Boer}, {Arnoud V.} and Meylahn, {Janusz M.} and Schinkel, {Maarten Pieter}",
year = "2022",
month = dec,
day = "12",
doi = "10.2139/ssrn.4213600",
language = "English",
series = "Amsterdam Law School Research Paper",
publisher = "Social Science Research Network (SSRN)",
number = "2022-25",
pages = "1--49",
type = "WorkingPaper",
institution = "Social Science Research Network (SSRN)",
}