That a book costs millions of euros may seem a crazy idea, but this was exactly what happened on Amazon due to a failure in automatic algorithms that adjust prices to compete in the market.
The protagonist of the event was a book specialized in evolutionary biology entitled The Making of a Flyby Peter Lawrence, whose price reached the 23,698,655.93 dollars.
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A Amazon error got a scientific book to cost millions
Originally published in 1992, this book is a reference for researchers focused on flies. It was precisely a postdoctoral student who, when looking for a copy, noticed that the price was raising alarmingly. Intrigued, Michael Eisen – scientific in that same laboratory – told history in his personal blog.
At the time of the discovery, Amazon offered 17 copies: 15 second -hand, which began in the $ 35.54, and two new, one of them with a price of $ 1,730,045.91 (plus 3.99 of shipping costs). The next day, after updating the page, prices began to increase even more.
There were two sellers involved: profnath y bordeebookwhose prices were maintained with a constant difference of about $ 5,000. Eisen, fascinated, decided to register the daily increase in a table.
Finally, on April 18, prices reached its maximum point: profnath sold the book by 18,651,718.08 dollarswhile bordeebook He did it for 23,698,655.93 dollars.
Everything indicates that both merchants had automatic price fixing systems activated. In this case, it is speculated that profnath I was trying to maintain its price a bit below the bordeebookwhile the latter applied a slight margin above its competitor. Thus, each daily adjustment caused a waterfall effect that fired the prices exponentially.
One of the theories is that bordeebook He trusted his high reputation at Amazon to justify higher prices, waiting for customers to pay more for a best -assessment seller. Another possibility is that they did not have the book in stock and simply wait to get it if any buyer completed the purchase.
The price returned to normal the next day, again around $ 100. But this case left a clear lesson: let the algorithms automatically manage products prices can generate unusual errors … and very expensive.
Cover generated with AI
Via | Wired
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