Tacit Collusion: a type of collusive behavior where firms coordinate their actions without explicitly communicating or reaching an agreement. Instead, firms may signal their intentions through various actions, such as pricing behavior or output levels, in order to coordinate their behavior and achieve higher profits.
Is there a word for something that isn’t necessarily a conspiracy, but involves the unspoken collusion of mutual parties whose interests are aligned?
Tacit Collusion: a type of collusive behavior where firms coordinate their actions without explicitly communicating or reaching an agreement. Instead, firms may signal their intentions through various actions, such as pricing behavior or output levels, in order to coordinate their behavior and achieve higher profits.
In Canada, when one of the three cellphone carriers raise their prices, the other two raise theirs immediately.
Gas stations are a big one here in the US. Why would one keep their price lower when the one across the street is charging 15 cents more per gallon?
[Modern] Capitalism?