price fixing

or price-fixing

noun

1. the establishing of prices at a determined level, either by a government or by mutual consent among producers or sellers of a commodity.

price-fixing

noun

1. the setting of prices by agreement among producers and distributors
2. another name for price control resale price maintenance

price fixing

1. Any usually unlawful practice by which producers of a commodity act together to obtain an artificially high price.

Word History and Origins

Origin of price fixing¹

First recorded in 1945–50

Example Sentences

The company is "alleging a price fixing scheme for beef specifically" and has filed a federal complaint in New York that "accused the companies of anticompetitive measures such as collectively limiting supply to boost prices and charge 'illegally inflated amounts,'" according to the publication.

From Salon

Recent revelations about a data analytics firm’s role in determining medical payments have heightened concerns about possible price fixing in health care and led to a call for a federal investigation.

From New York Times

In interviews, Ms. Klobuchar, a Democrat from Minnesota, and experts in antitrust law said this arrangement could amount to price fixing: Rather than competing to offer better coverage, insurers could use the low prices recommended by MultiPlan’s algorithms, knowing their competitors would likely do the same.

From New York Times

Price fixing removes competition from the market and generally makes goods and services more expensive.

From Salon

The agency has argued in court filings that price fixing “is still illegal even if you are achieving it through an algorithm,” Khan said.

From Salon

Related Words

• restraint