Dictionary Meaning and Definition on 'Collude'
v : act in unison or agreement and in secret towards a deceitful
or illegal purpose; "The two companies conspired to cause
the value of the stock to fall" [syn: conspire]
- Collude \Col*lude"\, v. i. [imp. & p. p. Colluded; p. pr. &
vb. n. Colluding.] [L. colludere, -lusum; col- + ludere to
play. See Ludicrous.]
To have secretly a joint part or share in an action; to play
into each other's hands; to conspire; to act in concert.
If they let things take their course, they will be
represented as colluding with sedition. --Burke.
Wikipedia Meaning and Definition on 'Collude'
Collusion is an agreement between two or more persons, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage.
In the study of economics and market competition, collusion takes place within an industry when rival companies cooperate for their mutual benefit. Collusion 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. Cartels are a special case of explicit collusion. Collusion which is not overt, on the other hand, is known as tacit collusion.
According to neoclassical price-determination theory and game theory, the independence of suppliers forces prices to their minimum, increasing efficiency and decreasing the price determining ability of each individual firm. However, if firms collude to increase prices loss of sales is minimized as consumers lack alternative choices at lower prices. This benefits the colluding firms at the cost of efficiency to society.[See more about Collude at Dictionary 3.0 Encyclopedia]
Words and phrases related to 'Collude'
Collude Sample Sentences in News
- Roche says did not collude with Novartis to restrict competition
ZURICH (Reuters) - Swiss drugmaker Roche said on Thursday that it had not colluded with Novartis to restrict competition for eye disease treatments. "Roche confirms there is no agreement between Roche and Novartis that restricts competition," the drugmaker said in a statement. Earlier on Thursday, the companies said France's competition authority was Read more on this news related to 'Collude'
- Martin O'Neill: 'I did not collude with agent over Gavin McCann deal'
REPUBLIC of Ireland boss Martin O’Neill has appeared in court to give evidence in the £390,000 lawsuit against Bolton Wanderers and a sports agency. Read more on this news related to 'Collude'
- ‘Banks can’t collude to fix forex rates’
The Head of Trading and Treasury Execution at Barclays Bank Ghana, Mr Kobla Nyaletey, has dismissed concerns that commercial banks in the country could, in the near future, collude to fix the rates at which foreign currency are exchanged with the cedi. Read more on this news related to 'Collude'