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To differentiate from a cartel, collusive agreements between parties may not be explicit; however, the implications of cartels and collusion are the same. [4] Under competition law, there is an important distinction between direct and covert collusion.
Another form of collusive lawsuit involves fraud, where two persons agree to fake an accident, so that the "victim" can sue the other person in order to collect from the other person's insurance. This is a crime, and insurance companies investigate claims to determine that no collusion is involved. Because of the fear of collusive suits, many ...
One form of collusive oligopoly is a cartel, [18] [better source needed] a monopolistic organisation and relationship formed by manufacturers who produce or sell a certain kind of goods in order to monopolise the market and obtain high profits by reaching an agreement on commodity price, output and market share allocation. However, the ...
Bid rigging is a fraudulent scheme in a procurement action which enables companies to submit non-competitive bids. It can be performed by corrupt officials, by firms in an orchestrated act of collusion, or by officials and firms acting together.
Thus, there may be unwritten rules of collusive behavior such as price leadership. Price leadership is the form of a tacit collusion, whereby firms orient at the price set by a leader. [14] A price leader will then emerge and set the general industry price, with other firms following suit.
The concept of collusion in couples' relations with two partners is a psychological term for behavioral patterns in relationships for couples therapy. In contemporary psychotherapeutical practice, collusion often refers to a failure of the therapist to maintain neutrality or objectivity, such as when the therapist aligns too closely with a client's distorted perspectives or defenses.
Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910. A cartel is a group of independent market participants who collude with each other as well as agreeing not to compete with each other [1] in order to improve their profits and dominate the market.
Rent-seeking is the act of growing one's existing wealth by manipulating the social or political environment without creating new wealth. [1] Rent-seeking activities have negative effects on the rest of society.