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LSDefine

Simple English definitions for legal terms

collusion

Read a random definition: treating-physician rule

A quick definition of collusion:

Collusion is when two or more people secretly agree to cheat or do something illegal to harm someone else. In antitrust law, collusion happens when competitors at the same level agree to control prices or limit supply. This can happen by sharing information or dividing the market. Sometimes, companies in a concentrated market can create a monopoly by setting prices at a higher level than they should be. This is called tacit collusion and is not always illegal.

A more thorough explanation:

Collusion is a secret agreement between two or more parties to cheat or deceive a third-party or to achieve an illegal purpose.

In antitrust law, collusion refers to the illegal agreement between competitors to control or fix prices, limit supply, share insider information, or divide the market. There are two types of collusion:

  • Horizontal collusion: This occurs when competitors at the same market level agree to fix or control the prices they will charge for their respective goods or services. For example, two companies may agree to charge the same price for their products, even though they would normally compete on price.
  • Tacit collusion: This is the process by which firms in a concentrated market create monopoly power by setting their prices at a profit-maximizing, supra-competitive level after recognizing their shared economic interests and interdependence with respect to price and output decisions. This type of collusion is not in itself unlawful, but it can lead to antitrust violations.

For example, two gas stations in the same town might agree to charge the same price for gasoline, even though they would normally compete on price. This is an example of horizontal collusion. Alternatively, two airlines might agree to limit the number of flights they offer on a particular route, which would allow them to charge higher prices. This is an example of tacit collusion.

collision insurance coverage | collusive action

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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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