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As a frequent Amazon customer, I have noticed that the prices of products I am interested in buying often fluctuate over time. These changes could either be an increase or decrease in price, and I have found myself waiting for the prices to drop before making a purchase. However, there have been instances where I bought a product at what I thought was a good price, only to find out that it became even lower afterwards.

I am curious about the pricing strategies that Amazon employs and how they impact consumer behavior. Does Amazon use random pricing, and if so, why? A simple steady price wouldn't be better for consumers/firms? Are there other pricing strategies that they use, such as dynamic pricing or personalized pricing? I'd like to hear some of your insights on this.

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