Senator Welch suggests changing antitrust laws needed for algorithmic behavior at Senate hearing

Vermont Senator Peter Welch and Brookings Institution Visiting Fellow Bill Baer discuss the need to adapt antitrust laws and legal standards to effectively address anti-competitive behavior facilitated by algorithms, acknowledging that private plaintiffs are taking action on behalf of affected parties like hotel customers and apartment renters, however, the challenge lies in addressing independent and knowing use of similar algorithms by competitors, which produces anti-competitive results without direct collusion, presenting a complex problem for enforcement at a Senate Judiciary Subcommittee on Competition Policy, Antitrust, and Consumer Rights hearing.