Term:
Price fixing agreement
Definition:
A Price fixing agreement is an agreement between sellers to raise or fix prices in order to restrict inter-firm competition and earn higher profits. Price fixing agreements are formed by firms in an attempt to collectively behave as a monopoly.
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
