Collusion

Definition of Collusion

Collusion is a form of non-competitive agreement that is agreed by rivals in order to take attempts to disrupt the market equilibrium. With this collaboration, rival firm look for the opportunity to alter the price of goods according to their advantages. On this agreement, the parties share decisions about choosing or restricting the supply of a good.

Books on Collusion

Book 1 –

The Economics of Collusion: Cartels and Bidding Rings By Robert C. Marshall, Leslie M. Marx (published by MIT Press, 2012)

Book 2 –

Competition, Collusion, and Game Theory By Lester G. Telser (published by Transaction Publishers, 1971)

How Collusion works?

In the United States, Canada and the most of the EU has banned collusion because of the competition/antitrust law, but at the same time implicit collusion in form of price leadership and tacit understanding still exist.

For example, in the 1960s market division and price fixing among manufacturers of heavy electrical equipments.

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