Concept information
Preferred term
price-fixing
Definition
- Price-fixing is an illegal act whereby two or more companies in presumed competition with one another conspire to set or fix prices for a good or service in an attempt to maximize profits. Competitors agree to manipulate prices, thereby forcing consumers to pay artificially inflated costs. [Source: Encyclopedia of Transnational Crime & Justice; Price-Fixing]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/price-fixing
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