Understanding Collusion: Impact, Detection, And Enforcement
Collusion is a secretive pact among competitors to control market outcomes, often through price-fixing, bid-rigging, market division, or output restriction. Cartels, oligopolies, and monopolies can facilitate collusion. Price-fixing and bid-rigging directly harm consumers by inflating prices. Market division reduces competition, while output restriction artificially limits supply. Collusion stifles innovation, harms competition, and undermines market efficiency….