"Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right."
An agreement between firms to restrict competition, often resulting in higher prices and reduced output.
Game Theory: The study of strategic decision-making among individuals or groups.
Market Structure: The characteristics of the market in which firms compete, including the number and size distribution of firms, barriers to entry, and degree of product differentiation.
Antitrust Law: Laws regulating the behavior of firms and the conditions of competition in the marketplace.
Cartels: A group of firms that collude to restrict output, raise prices, and increase profits.
Price-fixing: A type of collusion in which firms agree to set the same price for a product.
Bid-rigging: A type of collusion in which firms agree to take turns submitting artificially high bids in order to win contracts.
Tacit Collusion: A form of collusion in which firms coordinate their behavior without explicit agreement or communication.
Detecting Collusion: The methods and techniques used to detect and investigate instances of illegal collusion.
Leniency Programs: Programs which allow firms to come forward and admit to collusion in exchange for immunity or reduced penalties.
Collusion in Different Markets: The particular characteristics and strategies of collusion in various markets, including oligopolies, monopolies, and imperfectly competitive markets.
Price Fixing: A group of firms agree to set the price of their products or services at a pre-determined level, in order to maintain high profits and eliminate competition.
Bid Rigging: A group of firms collude to manipulate the bidding process in order to ensure that one of their members wins the contract, often by agreeing to submit high bids for other competitors.
Market Allocation: Firms agree to divide the market among themselves, by allocating certain customers or sales territories to each of the participants. This allows them to avoid competing with each other, thereby maintaining high prices.
Output Restraint: Firms agree to limit production or output, thereby reducing competition among themselves and maintaining high prices.
Information Sharing: Firms share confidential information with each other, such as pricing or production plans, in order to coordinate their activities and avoid competing with each other.
Collusive Tendering: Firms coordinate their bids on public tenders or procurement contracts, by agreeing to submit identical or complementary bids in order to eliminate competition and obtain the contract at a pre-determined price.
Joint Ventures: Firms form a joint venture or other strategic alliance in order to collaborate on production, marketing or R&D activities, often to the exclusion of other competitors.
Exclusive Dealing: A firm agrees to purchase all or most of its inputs or outputs from a single supplier, in order to restrict competition and maintain high prices.
Refusal to Deal: A firm refuses to sell its products or services to a particular customer or group of customers, thereby limiting competition and maintaining high prices.
Price Discrimination: Firms charge different prices to different customers or groups of customers, in order to segment the market and extract maximum profits from each group.
Predatory Pricing: A firm sets its prices below cost in order to drive competitors out of business, and then raises prices once the competition has been eliminated.
Vertical Price Fixing: Firms at different levels of the supply chain agree to set prices or terms of trade, usually to the exclusion of other competitors.
Group Boycotts: A group of firms agree to refuse to deal with a particular supplier or customer, in order to limit competition and maintain high prices.
Market Manipulation: Firms engage in fraudulent or manipulative practices in order to influence the price or volume of a particular commodity, such as through insider trading or market cornering.
Patent Pooling: Firms with similar patents agree to cooperate in the licensing or exploitation of their intellectual property, often to the exclusion of other competitors.
"Collusion is not always considered illegal."
"It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage."
"It can involve 'unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties'."
"In legal terms, all acts effected by collusion are considered void."
"It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities."
"Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right."
"It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage."
"It can involve 'unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties'."
"In legal terms, all acts effected by collusion are considered void."
"Collusion is not always considered illegal."
"It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities."
"It can involve 'unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties'."
"In legal terms, all acts effected by collusion are considered void."
"It can be used to attain objectives forbidden by law; for example, by defrauding or gaining an unfair market advantage."
"In legal terms, all acts effected by collusion are considered void."
"Collusion is a deceitful agreement or secret cooperation between two or more parties to limit open competition by deceiving, misleading or defrauding others of their legal right."
"Collusion is not always considered illegal."
"It can involve 'unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties'."
"In legal terms, all acts effected by collusion are considered void."