Term:
Conspiracy
Definition:
A conspiracy is normally a covert or secret arrangement between competing firms in order to earn higher profits by entering into an agreement to fix prices and restrict output.
The terms combination, conspiracy, agreement and collusion are often used interchangeably.
Domain:
Finance
Source:
Glossary of Industrial Organisation Economics and Competition Law, compiled by R. S. Khemani and D. M. Shapiro, commissioned by the Directorate for Financial, Fiscal and Enterprise Affairs, OECD, 1993
