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price fixing
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price fixing


The Sherman Antitrust Act had been passed in 1890 after a congressional investigation of price fixing in the meatpacking industry, and for the next two decades the federal government tried to break up the Beef Trust, with little success.
Eric Schlosser  --  Fast Food Nation
  an agreement made by competing organizations to avoid competitive pricing
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Notes:
Price fixing most commonly consists of competitors agreeing to sell goods at the same price, but it can include bid rigging, colluding on what will be paid, and many other variations.

Even an unspoken agreement to fix price is a felony in the United States; though it is not illegal to copy the price movements of a de facto market leader.
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Samples:
  • The Sherman Antitrust Act had been passed in 1890 after a congressional investigation of price fixing in the meatpacking industry, and for the next two decades the federal government tried to break up the Beef Trust, with little success.
    Eric Schlosser  --  Fast Food Nation
  • Although competition between the large processors has indeed led to lower costs for consumers, price fixing and collusion have devastated independent ranchers and farmers.
    Eric Schlosser  --  Fast Food Nation
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Associated words [difficulty]:   price fixing [9] , inside information [6] , antitrust [7] , predatory pricing [9] , antitrust [7] , predatory pricing [9]
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Most commonly used in these subjects:   Law, Business, Personal Finance
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