"Conscious parallelism" redirects here. For other uses, see Parallelism.
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Tacit collusion is a collusion between competitors who do not explicitly exchange information but achieve an agreement about coordination of conduct.[1] There are two types of tacit collusion: concerted action and conscious parallelism.[2][3] In a concerted action also known as concerted activity,[4] competitors exchange some information without reaching any explicit agreement, while conscious parallelism implies no communication.[1][5] In both types of tacit collusion, competitors agree to play a certain strategy without explicitly saying so. It is also called oligopolistic price coordination[6] or tacit parallelism.[7]
A dataset of gasoline prices of BP, Caltex, Woolworths, Coles, and Gull from Perth gathered in the years 2001 to 2015 was used to show by statistical analysis the tacit collusion between these retailers.[8] BP emerged as a price leader and influenced the behavior of the competitors. As result, the timing of price jumps became coordinated and the margins started to grow in 2010.
^ abHarrington, Joseph E. (2012). "A theory of tacit collusion" (PDF). Retrieved 24 March 2021. {{cite journal}}: Cite journal requires |journal= (help)
^Vaska, Michael K. (1985). "Conscious Parallelism and Price Fixing: Defining the Boundary". University of Chicago Law Review. 52 (2): 508–535. doi:10.2307/1599667. JSTOR 1599667. Retrieved 27 March 2021.
^Shulman, Daniel R. (2006–2007). "Matsushita and the Role of Economists with Regard to Proof of Conspiracy". Loyola University Chicago Law Journal. 38: 497. Retrieved 27 March 2021.
^Buccirossi, Paolo (2008). "Facilitating practices" (PDF). Handbook of Antitrust Economics. 1: 305–351. Retrieved 27 March 2021.
^Page, William H. (2007). "Communication and Concerted Action". Loyola University Chicago Law Journal. 38: 405. Retrieved 24 March 2021.
^Fzrachi, Ariel; Stucke, Maurice E. (2019). "Sustainable and Unchallenged Algorithmic Tacit Collusion". Northwestern Journal of Technology and Intellectual Property. 17: 217.
^Markham, Jesse W. (1951). "The Nature and Significance of Price Leadership". The American Economic Review. 41 (5): 891–905. ISSN 0002-8282. JSTOR 1809090. Retrieved 25 April 2021.
^Byrne, David P.; de Roos, Nicolas (23 July 2018). "Learning to Coordinate: A Study in Retail Gasoline". Social Science Research Network. SSRN 2570637. Retrieved 25 March 2021. {{cite journal}}: Cite journal requires |journal= (help)
Tacitcollusion is a collusion between competitors who do not explicitly exchange information but achieve an agreement about coordination of conduct. There...
the form of price leadership and tacit understandings still takes place. Covert collusion is known as tacitcollusion and is considered legal. Adam Smith...
engage in formal collusion, such as cartels. Corporations may often thus evade legal consequences through tacitcollusion, as collusion can only be proven...
contact, or simply share information, but appear to act in concert. Tacitcollusion, particularly in concentrated markets with a small number of competitors...
The loosest form of a price cartel can be recognized in tacitcollusion (implicit collusion), wherein smaller enterprises individually devise their prices...
(SRECs). Dutch auction IPOs have been criticised for the possibility of tacitcollusion and cartel-like behaviour, as the issuer has discretion over price...
their good and reduces the auctioneer's commission. Beyond explicit collusion, a tacit coordination of bidders to keep bids low is at least theoretically...
within the industry that competed along different dimensions making tacitcollusion more difficult. These asymmetrical strategic groups caused the industry...
prices and lower consumer welfare even when collusion in the sense of cartelization (i.e. explicit collusion) is absent. Examples are Cournot oligopoly...
are automatically void. Article 101(3) establishes exemptions, if the collusion is for distributional or technological innovation, gives consumers a "fair...
by firms in an orchestrated act of collusion, or by officials and firms acting together. This form of collusion is illegal in most countries. It is a...
gains are experienced by the firm. An oligopoly may engage in collusion, either tacit or overt to exercise market power and manipulate prices to control...
reduction and collusive bidding. The information and flexibility in the process of auction can be used to reduce auction prices by tacitcollusion. When bidder...
Hotelling's linear city model Nash equilibrium Stackelberg competition Tacitcollusion Bertrand's review is most easily found in Margaret Chevaillier's English...
(March 1987). "How Cartels Punish: A Structural Theory of Self-Enforcing Collusion". Columbia Law Review. 87 (2): 295–325. doi:10.2307/1122562. JSTOR 1122562...
contains an open-auction component. Although the experts agreed that collusion among the bidders (which ultimately did occur; The Economist, May 17,...
Pratap K. J. (2016). "Design of Auction Parameters to Reduce the Effect of Collusion". Decision Sciences. 47 (6): 1016–1047. doi:10.1111/deci.12159. "GSA to...
opined that the DVD's high selling price was caused by algorithmic tacitcollusion and an inability for the product to shift at £3.99.: 27:09 In 2012...
Vestager mentioned an early example of algorithmic tacitcollusion in her speech on "Algorithms and Collusion" on March 16, 2017, described as follows: "A few...