DailyPost 1198
PRICE DISCOVERY!
Price discovery today out beats the effort make by Columbus in the discovery of America for the simple reason that it cannot happen. Price discovery is becoming even more elusive by the day. The price of a flight ticket today is more of a mathematical problem rather than a clear cut price discovery issue. No one knows on what formula it works, but it works and we all accept it. This is all in the name of market forces, when the forces are unknown to the customer but for some basic trends. The customer for sure is in for a ride.
These opaque price discoveries have had a murky past. The front end figures don’t explain the logic of its creation. Black box logic when it comes to money has for long been the forte of the digital world. The Y2K problem and the money it generated explains the very nature of price discovery it believes in. Later it degenerated in the dot.com bust. It was finally expected that the market forces and price discovery will finally descent on to the digital world.
That was not to happen. The price of a software from a simple App to an ERP remains beyond the imagination of an average customer. It has been designed so. Company’s cash registers ringing is most soothing sound. Software has remained in wraps. The effort, time and cost calculation formula has always moved on its head. The fixed cost projects in this genre can put even the best AI agents to shame. What you are told you have to believe, even the body shopping. What a shame to have body shopping in a technology that is changing the world to a data driven one.
To add to the fake veracity of price discovery, we have another expert group of professionals who without knowing technology have the audacity to verify, comment, suggest and audit. The auditors of the world. Leave aside the fate and pricing of the softwares, the often audited companies have gotten busted. Price discovery should happen is the name of the game, whatever is dictated democratically in a management process is the price.
CAN WE BRING BACK PRICE DISCOVERY TO THE MARKET.