Collusion is an agreement between two or more entities, to defraud or deprive others of their property or rightful share, or to otherwise indulge in a forbidden, illegal, or illegitimate activity. It can involve “wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties”. It is most often takes place within the market structure of oligopoly, where the decision of a few firms to collude can significantly impact the market as a whole. It involves people or companies that would typically compete, conspiring or working together that results in an unfair market advantage.
Collusion
