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Overview

international cartel

A collusion or an explicit agreement among firms from two or more countries on prices, market shares, allocation of customers, division of profits, etc. with the purpose of increasing the ...

international cartel

international cartel   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
63 words

...international cartel A collusion or an explicit agreement among firms from two or more countries on prices, market shares, allocation of customers, division of profits, etc. with the purpose of increasing the profits of individual members by reducing competition. It is more likely to exist in an oligopolistic industry with homogenous output. International competition authorities forbid cartels. See also anti-competitive practice ; antitrust ; cartel...

international cartel

international cartel  

Reference type:
Overview Page
A collusion or an explicit agreement among firms from two or more countries on prices, market shares, allocation of customers, division of profits, etc. with the purpose of increasing the profits of ...
International Cartels

International Cartels   Reference library

Harm G. Schröter

The Oxford Encyclopedia of Economic History

Reference type:
Subject Reference
Current Version:
2005
Subject:
Social sciences, Economics
Length:
2,313 words

...cartels on paper and pulp, some of the tightest and most able organizations of their kind, were constructed with the help of German cartel specialists. Sophisticated cartels set down rules of accountance. Some cartels accumulated a “war chest” for internal or external punishment. Cartels that can count on one hegemon, defined by an unusually large quota or other abilities, used to be quite stable. In case of the international dyestuff cartel, IG Farben as the hegemon carried out all negotiations with outsiders and announced the results. International cartels...

Cartel Office

Cartel Office  

Reference type:
Overview Page
(Germany).Office charged with overseeing restrictive practices, monopolies, anti-competitive activities, and competition policy.
Bundeskartellamt

Bundeskartellamt  

Reference type:
Overview Page
(Federal Cartel Office).(Germany). Government office charged with overseeing competition and anti-monopoly activity (cf. Monopolies and Mergers Commission).
cartel

cartel  

Reference type:
Overview Page
A system whereby producers divide up the market between themselves, avoiding direct competition and not encroaching on each other's share of the market. See Walker in R. Friman and P. Andreas, eds ...
cross-shareholding

cross-shareholding  

Reference type:
Overview Page
Where two or more companies agree to hold shares in one another for reasons to do with cartels or collusion or as means of mutual protection against unwanted predators. This ...
fixed commissions

fixed commissions  

Reference type:
Overview Page
A type of cartel agreement where intermediaries have the right to receive a commission that is fixed according to some predetermined schedule. While it was once common for securities exchanges ...
competitive (and anti-competitive) behaviour

competitive (and anti-competitive) behaviour  

The conduct of businesses in market situations involving actions and reactions to achieve advantage over rivals. Strong competition is usually beneficial to the consumer. Most governments in the ...
collusion

collusion  

Action in concert without any formal agreement. For example, firms may refrain from undercutting each other's prices, or from selling in each other's market areas. Collusion is common when ...
market failure

market failure  

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Overview Page
A situation in which a market does not operate efficiently. Factors that may cause market failure include the possession of market power by transactors, externalities, or information problems. See ...
Organization of Petroleum Exporting Countries

Organization of Petroleum Exporting Countries  

Reference type:
Overview Page
(OPEC)An organization created in 1960 to unify and coordinate the petroleum policies of member countries and to protect their interests, individually and collectively. Present members are Algeria, ...
treaty of Rome

treaty of Rome  

Reference type:
Overview Page
Subject:
History
(1957)Two international agreements signed in Rome by Belgium, France, Italy, Luxembourg, the Netherlands, and the Federal Republic of Germany. They established the European Economic Community and ...
competition

competition  

Rivalry between suppliers providing goods or services for a market. The consensus of most economic theory is that competition is beneficial for the public, largely because it brings prices down. ...
Belisario Betancur Cuartas

Belisario Betancur Cuartas  

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Overview Page
(b. Amagá, Antioquia, Colombia, 4 Feb. 1923)Colombian; President 1982–6 The second son of twenty-two children, sixteen of whom died as children, Betancur was born into an extremely poor family. He ...
dawn raid

dawn raid  

Reference type:
Overview Page
A move without notice by one firm to buy a substantial number of the shares of another. There is normally a limit to the number of shares that can be bought without giving notice of a takeover bid; a ...
Leninism

Leninism  

Reference type:
Overview Page
The doctrines of V. I. Lenin (1870–1924), especially his core contributions—on the party, the state, imperialism, and revolution—to Marxist theory.In What Is To Be Done? (1902) Lenin addressed the ...
monopoly

monopoly  

Reference type:
Overview Page
The situation where one company controls all or a substantial majority of a market. In the UK, the BBC enjoyed a government-enforced monopoly on broadcasting until 1955. Compare competition.
cartel

cartel   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
172 words

...example by giving secret price discounts or covertly exceeding quota limits on output. Enforcement of cartel agreements is made more difficult if governments regard cartels as undesirable, and make the existence of the cartels or the policies they follow either illegal, or lawful but not legally enforceable. The Organization of Petroleum Exporting Countries is the most famous and the longest-surviving cartel of recent times. See also international cartel ; tacit collusion...

cartel

cartel   Quick reference

A Dictionary of Finance and Banking (6 ed.)

Reference type:
Subject Reference
Current Version:
2018

... An association of independent companies formed to regulate the price and sales conditions of the products or services they offer. A cartel may operate nationally or internationally, although some countries, including the UK and the USA, have legislation forbidding cartels to be formed on the grounds that they are monopolies that function against the public...

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