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Published

price

vr.tr.price · thing-price

Let an agent handle prices by item, currency, basis, source and time, with sourced data and no personal financial advice.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Item What is priced.

Basis

Per unit.

Basis

Price basis.

  1. What is priced, per what unit, in which currency? definition
  2. Does it include tax and fees? boundary

Kind

Retail or market.

Kind

Price kind.

  1. Is it a retail, bid, ask or closing price? definition
  2. At what time? provenance
Comparison Like for like.

Unit price

Per kg or litre.

Unit price

Unit price.

  1. What is the unit price? measurement
  2. How does it compare? measurement

History

Changes.

History

Price history.

  1. How has the price changed? measurement
  2. From which source? provenance
Fairness Consumer protection.

Transparency

Display rules.

Transparency

Price display.

  1. Is the full price shown clearly? boundary
  2. Which rules apply? provenance

Complaints

Redress.

Complaints

Complaints.

  1. How can misleading pricing be reported? action
  2. To which authority? provenance
Limits No advice.

Advice

Boundary.

Advice

Advice limit.

  1. Is the user asking whether to buy or sell an asset? boundary
  2. How should the agent respond? action

Senses

Disambiguation.

Senses

Other senses.

  1. Is a figurative cost or a prize meant? boundary
  2. Which entry fits? action

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
observable
Other names and narrower kinds
terms, damage, asking price, selling price, bid price, closing price, offer price, upset price, factory price, highway robbery, list price, purchase price

What it is Filled

The amount of money needed to purchase something, such as the asking, selling, bid or closing price, set by sellers, markets or regulation.

Why it exists Filled

Let an agent handle prices by item, currency, basis, source and time, with sourced data and no personal financial advice.

Distinguishing features Filled

  • Money needed to buy
  • Set by sellers or markets
  • Must be displayed clearly by law in many places
  • Varies over time

What robots and AI may and may not do Filled

Must not

  • Collude with others to fix prices.
  • Hide fees or show a price that differs from what will be charged.
  • Raise prices of essentials exploitatively in emergencies where the law forbids it.
  • Set personalised prices using protected characteristics.

Only with a human decision

  • Changing prices that customers are committed to.
  • Agreeing a price on someone's behalf.

May

  • Report and compare prices from sources it is allowed to read, with date and currency.
  • Explain how a price is made up of costs, taxes and margins.

Moral aspects Filled

  • Prices decide who can afford essentials.
  • Opaque and personalised pricing can exploit the vulnerable.

Who is affected

  • Consumers
  • Small sellers
  • Low-income households

Owners Filled

Steward

The seller who sets it; competition and consumer authorities regulate pricing practices.

Master systems

  • Official price statistics such as consumer price indices

Links to other meta-models Filled

parent

  • oewn-13296870-n - registry parent class

related

  • amount of money - category
  • currency - unit
  • price index - statistics
  • rate and cost - concepts

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.price
  • Open English WordNet: oewn-13324337-n

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Price with currency and unit
  • Kinds such as bid, ask or closing price
  • Unit prices for comparison
  • Figures on labels, quotes, invoices and market tickers.

Capabilities and actions required Filled

  • compare prices on the same basis
  • check price transparency rules
  • track price changes
  • report unfair pricing

Hazards and failure modes required Filled

  • Hidden fees and drip pricing
  • Stale price data
  • Personal investment advice on market prices

Standards and interfaces required Filled

  • EU Price Indication Directive 98/6/EC
  • Consumer protection law on misleading prices
  • Competition law on price fixing

Context of use required Filled

  • Exchanging goods and services and signalling value.
  • retail prices
  • market prices: bid, ask, closing
  • unit prices
  • regulated prices
  • price indices

Sources Filled

  1. Open English WordNet 2024, synset oewn-13324337-n - sense and gloss of the concept
  2. Wiktionary: price - word senses and usage

Open questions

  • Should price kinds be separate entries?
  • How should price sources be timestamped?
  • How should indices be linked?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-price/spec.json