price fixing

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price fixing

n.
1. The setting of artificially high prices for goods or services by unlawful agreement of competing companies.
2. Governmental setting of prices for goods or services.

price′ fix`ing

or price′-fix`ing,


n.
the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.
[1945–50]

price fixing

An illegal arrangement between competitors to set a common minimum price for their products. Price fixing is a conspiracy usually carried out by large corporations that dominate a particular market.
References in periodicals archive ?
LORRY maker Scania has been hit with a PS770million fine for taking part in a pricefixing cartel.
LORRY makers Scania have been fined PS770million for their part in a pricefixing cartel.
Honest, publicly accessible pricing and accounting ("transparency") is essential to controlling costs and optimizing access Government and other third-party payment or pricefixing obscures the true value of a service, which can only be determined by a buyer's willingness to pay.
MORE than 200 Liverpool jobs producing Spam, right, were at risk in an international row over allegations of pricefixing.
In the last few years, we've seen bluechip companies pay hundreds of millions in fines for pricefixing scandals and it's even forced non-compliant firms into administration.
Leslie, Achieving Efficiency Through Collusion: A Market Failure Defense to Horizontal PriceFixing, 81 Cal.
The tribunal has the power to both subpoena evidence and fine companies 10% of their annual turnover for pricefixing or illegal anti-competitive behaviour.
China has fined six mostly foreign baby formula companies a total of $108mn for pricefixing, the government said yesterday, in reportedly the country's biggest-ever anti-trust penalty.
332, 352-53 (1982) (finding a pricefixing scheme by a physician's association unlawful, in part because the prices were fixed by the doctors themselves).
Let's stipulate that there may have been some manner of pricefixing here, perhaps even arranged in "private rooms for dinner in upscale Manhattan restaurants," as the complaint darkly charged.
However, when it comes to behavioral enforcement aimed at stomping out anti-competitive practices such as pricefixing and monopolization, the MOU could mean more scrutiny and pressure on companies.
Counter-fraud work ranges from issuing penalty notices as a result of patients falsely claiming prescription charges to the multi-million-pound claims against drug companies for alleged pricefixing.