Definitions for conscious parallelism
con·scious par·al·lel·ism

WiktionaryRate this definition:0.0 / 0 votes

1. conscious parallelismnoun

   In United States antitrust law, price fixing that occurs without direct communication between the participants, but where the participants instead intentionally follow one another in raising prices to maximize profits at the expense of competitive pricing.

WikipediaRate this definition:0.0 / 0 votes

1. conscious parallelism

   Tacit collusion is a collusion between competitors, which do not explicitly exchange information and achieving an agreement about coordination of conduct. There are two types of tacit collusion - concerted action and conscious parallelism. In a concerted action also known as concerted activity, competitors exchange some information without reaching any explicit agreement, while conscious parallelism implies no communication. In both types of tacit collusion, competitors agree to play a certain strategy without explicitly saying so. It is also referred to as oligopolistic price coordination or tacit parallelism.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. 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.

WikidataRate this definition:0.0 / 0 votes

1. Conscious parallelism

   Conscious parallelism is a term used in competition law to describe pricing strategies among competitors in an oligopoly that occurs without an actual agreement between the players. Instead, one competitor will take the lead in raising or lowering prices. The others will then follow suit, raising or lowering their prices by the same amount, with the understanding that greater profits result. This practice can be harmful to consumers who, if the market power of the firm is used, can be forced to pay monopoly prices for goods that should be selling for only a little more than the cost of production. Nevertheless, it is very hard to prosecute because it may occur without any collusion between the competitors. Courts have held that no violation of the antitrust laws occurs where firms independently raise or lower prices, but that a violation can be shown when "plus factors" occur, such as firms being motivated to collude and taking actions against the own economic interests. The term has also been used to describe industry-wide assumption of terms other than price. For example, all competitors in an industry might make only long-term leases of products such as heavy machinery, leaving lessors with no opportunity to make a short-term lease of that product from any competitor.

How to pronounce conscious parallelism?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say conscious parallelism in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of conscious parallelism in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of conscious parallelism in Pythagorean Numerology is: 2

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/Conscious_Parallelism
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Conscious_Parallelism
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=conscious parallelism