Unveiling the Secrets of Successful Cartels: How They Control Prices
The article explores what makes cartels successful by looking at different ways they can maintain high prices and avoid getting caught. Four key conditions for a successful cartel are discussed: firms must agree not to compete, have a system that encourages members to follow the rules, prevent non-members from increasing supply, and avoid detection by authorities and customers. The article also mentions that practices that work well for collusion often come with more legal risks.