price fixingprice fixing
the setting or maintenance of prices at a certain level, esp. by competitors in collusion
- The setting of artificially high prices for goods or services by unlawful agreement of competing companies.
- Governmental setting of prices for goods or services.
price fixing - Legal Definition
Artificially setting prices at a certain level, in exception to the workings of a free market, or conspiring to do same. The test is whether such actions or agreements restrain free traders’ ability to sell according to those traders’ judgment.horizontal price fixing
Price fixing by competitors on the same level, such as all supermarkets selling cereal for the same price.vertical price fixing
Price fixing between or among parties at different levels of distribution, such as manufacturers and distributors trying to control retail price.