Dollars and Sense: Exposing Unfair Pricing*

This paper explores “price gouging” in oligopolistic industries. Drawing from Australian examples, it illustrates how determining who is responsible for market power-related inefficiencies—whether from consumer or producer behaviour—is fundamental to defining and identifying price gouging. I then discuss how recent competition policy reforms in Australia and global changes in data availability and artificial intelligence shape firms' willingness and ability to price gouge. I close by discussing the future role of government in enabling pro-competitive pricing in our increasingly digital economy through information aggregation and market design.