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Old page wikitext, before the edit (`old_wikitext`)	'{{short description\|Mutually beneficial collusion among competing corporations}} {{About\|economic cartels}} {{more citations needed\|date=December 2019}} {{wikt\|cartel}} {{Competition law}} [[File:RWKS Syndikatsgebäude-2.jpg\|thumb\|Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910]] A '''cartel''' is a group of independent market participants who [[Collusion\|collude]] with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes [[price fixing]], bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is [[cartel theory]]. Cartels are distinguished from other forms of collusion or anti-competitive organization such as [[corporate merger]]s. == Etymology == The word ''cartel'' comes from the Italian word ''[[wikt:cartello\|cartello]]'', which means a "leaf of paper" or "placard". The Italian word became ''cartel'' in [[Middle French]], which was borrowed into English. Its current use in Mexican and Colombian drug-trafficking world comes from Spanish ''cartel''. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange of prisoners.<ref>{{Cite web\|url=https://www.merriam-webster.com/dictionary/cartel\|title=Definition of CARTEL\|website=www.merriam-webster.com\|language=en\|access-date=2019-11-29}}</ref> == History == Cartels have existed since ancient times.<ref>Hans-Heinrich Barnikel: ''Kartelle in Deutschland.'' In: Ders. (Hrsg.): ''Theorie und Praxis der Kartelle'', Darmstadt 1972, S. 1.</ref> [[Guild]]s in the European [[Middle Ages]], associations of craftsmen or merchants of the same trade, have been regarded as cartel-like.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, p. 79.</ref> Tightly organized sales cartels in the mining industry of the late Middle Ages, like the 1301 salt syndicate in [[Kingdom of France (987–1498)\|France]] and [[Kingdom of Naples\|Naples]], or the [[Alaun]] cartel of 1470 between the [[Papal State]] and Naples.<ref>Nino Herlitzka: ''Bemerkungen zur historischen Entwicklung von Kartellen.'' In: Ludwig Kastl (Ed.): ''Kartelle in der Wirklichkeit.'' Köln 1963, p. 124–127.</ref> Both unions had common sales organizations for overall production called the ''Societas Communis Vendicionis'' [Common Sales Society]. [[Laissez-faire]] (liberal) economic conditions dominated Europe and North America in the 18th and 19th centuries. Around 1870, cartels first appeared in industries formerly under [[free-market]] conditions.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, S. 80–87.</ref> Although cartels existed in all economically developed countries, the core area of cartel activities was in central Europe. The [[German Empire]] and [[Austria-Hungary]] were nicknamed the "lands of the cartels".<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, S. 83–84.</ref> Cartels were also widespread in the United States during the period of [[Robber baron (industrialist)\|robber baron]]s and industrial [[Trust (business)\|trust]]s.<ref>Holm Arno Leonhardt: The development of cartel theory between 1883 and the 1930s. Hildesheim 2018. p. 18.</ref> The creation of cartels increased globally after [[World War I\|World War I]]. They became the leading form of [[industrial organisation\|market organization]], particularly in Europe and Japan. In the 1930s, authoritarian regimes such as [[Nazi Germany]], Italy under [[Mussolini]], and Spain under [[Francisco Franco\|Franco]] used cartels to organize their [[Economics of fascism\|corporatist economies]]. Between the late 19th century and around 1945, the United States was ambivalent about cartels and trusts. There were periods of both opposition to [[market concentration]] and relative tolerance of cartels. During [[World War II\|World War II]], the United States strictly turned away from cartels.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien''. Hildesheim 2013, p. 251–292.</ref> After 1945, American-promoted [[Economic liberalism\|market liberalism]] led to a worldwide cartel ban, where cartels continue to be obstructed in an increasing number of countries and circumstances. == Types == Cartels have many structures and functions. Typologies have emerged to distinguish distinct forms of cartels:<ref>Jeffrey R. Fear: Cartels. In: Geoffrey Jones; Jonathan Zeitlin (ed.): The Oxford handbook of business history. Oxford: Univ. Press, 2007, p. 269–274; [[Robert Liefmann]]: ''Cartels, Concerns and Trusts'', Ontario 2001 [London 1932], p. 63–71.</ref> * Selling or buying cartels unite against the cartel's customers or suppliers, respectively. The former type is more frequent than the latter. * Domestic cartels only have members from one country, whereas international cartels have members from more than one country.<ref>{{Cite book\|title=Regulating Competition: Cartel registers in the twentieth-century world\|last1=Fellman\|first1=Susanna\|last2=Shanahan\|first2=Martin\|publisher=Routledge\|year=2015\|isbn=9781138021648\|location=London\|pages=224}}</ref> There have been full-fledged international cartels that have comprised the whole world, such as the international steel cartel of the period between World War I and II. * Price cartels engage in [[price fixing]], normally to raise [[price]]s for a commodity above the competitive price level. The loosest form of a price cartel can be recognized in [[tacit collusion]], wherein smaller enterprises follow the actions of a [[market leader]]. * Quota cartels distribute proportional shares of the market to their members. * Common sales cartels sell their joint [[Output (economics)\|output]] through a central selling agency (in [[French language\|French]]: ''[[wikt:comptoir\|comptoir]]''). They are also known as [[syndicate]]s (French: ''syndicat industriel''). * Territorial cartels distribute districts of the market to be used only by individual participants, which act as [[monopolist]]s. * Submission cartels control offers given to [[Tender offer\|public tenders]]. They use [[bid rigging]]: bidders for a tender agree on a bid price. They then do not bid in unison, or share the return from the winning bid among themselves.<ref>John M. Connor and Dan Werner. Variation in Bid-Rigging Cartels' Overcharges: SSRN Working Paper No. 3273988. (October 27, 2018). [http://ssrn.com/abstract=3273988\|Abstract].</ref> * Technology and [[patent]] cartels share knowledge about technology or science within themselves while they limit the information from outside individuals. * Condition cartels unify [[contractual term]]s – the modes of [[payment]] and delivery, or [[warranty]] limits. * [[Standardization]] cartels implement common standards for sold or purchased products. If the members of a cartel produce different sorts or grades of a good, conversion factors are applied to calculate the value of the respective output. * [[Compulsory cartel]]s, also called "forced cartels", are established or maintained by external pressure. Voluntary cartels are formed by the free will of their participants. == Effects == A survey of hundreds of published economic studies and legal decisions of antitrust authorities found that the median price increase achieved by cartels in the last 200 years is about 23 percent. Private international cartels (those with participants from two or more nations) had an average price increase of 28 percent, whereas domestic cartels averaged 18 percent. Less than 10 percent of all cartels in the sample failed to raise market prices.<ref>John M. Connor. Cartel Overcharges, p. 249–387 of The Law and Economics of Class Actions, in Vol. 29 of Research in Law and Economics, edited by James Langenfeld (March 2014). Bingley, UK: Emerald House Publishing Ltd. June 2017</ref> In general, cartel agreements are economically unstable in that there is an [[incentive]] for members to cheat by selling at below the cartel's agreed price or selling more than the cartel's production quotas. Many cartels that attempt to set product prices are unsuccessful in the long term. Empirical studies of 20th-century cartels have determined that the mean duration of discovered cartels is from 5 to 8 years.<ref>[[Margaret Levenstein\|Levenstein, Margaret C.]] and Valerie Y. Suslow. "What Determines Cartel Success?" Journal of Economic Literature 64 (March 2006): 43–95</ref> Once a cartel is broken, the incentives to form a new cartel return, and the cartel may be re-formed. Publicly known cartels that do not follow this [[business cycle]] include, by some accounts, OPEC. Cartels often practice price fixing internationally. When the agreement to control prices is sanctioned by a multilateral treaty or protected by national sovereignty, no antitrust actions may be initiated.<ref>Connor, John M. ''Private International Cartels: A Concise Introduction: SSRN Working Paper.'' (November 12, 2014). [http://ssrn.com/abstract=2523883 Abstract].</ref> OPEC countries partially control the price of oil, and the [[International Air Transport Association]] (IATA) fixes prices for international airline tickets while the organization is excepted from antitrust law.<ref>{{Cite journal\| last=Hannigan\| first=John A.\|date=1982\|title=Unfriendly Skies: The Decline of the World Aviation Cartel\| journal=The Pacific Sociological Review\| volume=25 \|issue=1\| pages=107–136\| doi=10.2307/1388890\| issn=0030-8919\| jstor=1388890\| s2cid=158297510}}</ref><ref>{{Cite journal \| last=Koffler\| first=Warren\|date=Spring 1966\|title=IATA: It's legal structure - A critical review\| url=https://heinonline.org/HOL/Page?handle=hein.journals/jalc32&id=238&collection=journals&index=\| journal=Journal of Air Law and Commerce \| volume=32\| pages=222–235\| via=HeinOnline}}</ref> == Organization == Drawing upon research on organizational misconduct, scholars in economics, sociology and management have studied the organization of cartels.<ref>{{Cite journal\|last1=Faulkner\|first1=Robert R.\|last2=Cheney\|first2=Eric R.\|last3=Fisher\|first3=Gene A.\|last4=Baker\|first4=Wayne E.\|date=2003\|title=Crime by Committee: Conspirators and Company Men in the Illegal Electrical Industry Cartel, 1954–1959\|journal=Criminology\|language=en\|volume=41\|issue=2\|pages=511–554\|doi=10.1111/j.1745-9125.2003.tb00996.x\|issn=1745-9125}}</ref><ref>{{Cite journal\|last1=Genesove\|first1=David\|last2=Mullin\|first2=Wallace P\|date=2001\|title=Rules, Communication, and Collusion: Narrative Evidence from the Sugar Institute Case\|journal=American Economic Review\|language=en\|volume=91\|issue=3\|pages=379–398\|doi=10.1257/aer.91.3.379\|s2cid=153786791\|issn=0002-8282\|url=http://www.nber.org/papers/w8145.pdf}}</ref> They have paid attention to the way cartel participants work together to conceal their activities from antitrust authorities. Even more than reaching efficiency, participating firms need to ensure that their collective secret is maintained.<ref>{{Cite journal\|last1=Baker\|first1=Wayne E.\|last2=Faulkner\|first2=Robert R.\|date=1993\|title=The Social Organization of Conspiracy: Illegal Networks in the Heavy Electrical Equipment Industry\|journal=American Sociological Review\|volume=58\|issue=6\|pages=837\|doi=10.2307/2095954\|jstor=2095954}}</ref> It has also been argued that the diversity of the participants (e.g., age and size of the firms) influences their ability to coordinate to avoid being detected.<ref>{{Cite journal\|last1=Bertrand\|first1=Olivier\|last2=Lumineau\|first2=Fabrice\|date=2016\|title=Partners in Crime: The Effects of Diversity on the Longevity of Cartels\|journal=Academy of Management Journal\|volume=59\|issue=3\|pages=983–1008\|doi=10.5465/amj.2013.1209\|s2cid=143383363\|issn=0001-4273}}</ref> == Cartel theory versus antitrust concept == The scientific analysis of cartels is based on [[cartel theory]]. It was pioneered in 1883 by the Austrian economist [[Friedrich Kleinwächter]] and in its early stages was developed mainly by German-speaking scholars.<ref>Holm Arno Leonhardt: The development of cartel theory between 1883 and the 1930s. Hildesheim 2018.</ref> These scholars tended to regard cartels as an acceptable part of the economy. At the same time, American lawyers increasingly turned against [[trade restrictions]], including all cartels. The [[Sherman Antitrust Act of 1890\|Sherman act]], which impeded the formation and activities of cartels, was passed in the United States in 1890. The American viewpoint, supported by activists like [[Thurman Arnold]] and [[Harley M. Kilgore]], eventually prevailed when governmental policy in Washington could have a larger impact in World War II. == Legislation == Because cartels are likely to have an impact on market positions, they are subjected to [[competition law]], which is executed by governmental [[competition regulator]]s. Very similar regulations apply to [[corporate merger]]s. A single entity that holds a [[monopoly]] is not considered a cartel but can be sanctioned through other abuses of its monopoly. Prior to World War II, members of cartels could sign contracts that were enforceable in courts of law except in the United States. Before 1945, cartels were tolerated in Europe and specifically promoted as a business practice in German-speaking countries.<ref>{{Cite book\|title=Competition Policy in the European Union\|last1=Cini\|first1=Michelle\|last2=McGowan\|first2=Lee\|publisher=Palgrave Macmillan\|year=2009\|isbn=978-0-230-00675-1\|location=New York\|pages=63}}</ref> In ''U.S. v. National Lead Co. et al.'', the [[Supreme Court of the United States]] noted the testimony of individuals who cited that a cartel, in its versatile form, is {{blockquote\|a combination of producers for the purpose of regulating production and, frequently, prices, and an association by agreement of companies or sections of companies having common interests so as to prevent extreme or unfair competition.<ref>{{Cite book\|title=Strategies to Achieve a Binding International Agreement on Regulating Cartels: Overcoming Doha Standstill\|last=Lee\|first=John\|publisher=Springer\|year=2016\|isbn=978-981-10-2755-0\|location=Berlin\|pages=13}}</ref>}} Today, price fixing by private entities is illegal under the antitrust laws of more than 140 countries. The commodities of prosecuted international cartels include [[lysine]], [[citric acid]], [[graphite]] [[electrode]]s, and bulk [[vitamin]]s.<ref>Connor, John M. (2008): ''Global Price Fixing: 2nd Paperback Edition''. Heidelberg: Springer.</ref> In many countries, the predominant belief is that cartels are contrary to free and fair competition, considered the backbone of political democracy.<ref>{{Cite book\|title=Controlling International Technology Transfer: Issues, Perspectives, and Policy Implications\|last1=Sagafi-Nejad\|first1=Tagi\|last2=Moxon\|first2=Richard\|last3=Perlmutter\|first3=Howard\|publisher=Pergamon Press\|year=2017\|isbn=978-0-08-027180-4\|location=New York\|pages=180}}</ref> Maintaining cartels continues to become harder for cartels. Even if international cartels cannot be regulated as a whole by individual nations, their individual activities in domestic markets are affected.<ref>Fellman & Shanahan, p. 224.</ref> Unlike other cartels, export cartels are legal in virtually all jurisdictions, despite their harmful effects on affected markets.<ref>{{cite journal \|last1=Martyniszyn \|first1=Marek \|title=Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law \|journal=Journal of International Economic Law \|date=2012 \|volume=15 \|issue=1 \|page=181 \|doi=10.1093/jiel/jgs003 \|s2cid=153887704 \|url=https://pure.qub.ac.uk/en/publications/export-cartels-is-it-legal-to-target-your-neighbour-analysis-in-light-of-recent-case-law(76b0a369-a9db-4f5e-aadb-7ffdc7b84164).html }}</ref> ==Examples== [[File:ATF policy.jpg\|thumb\|The printing equipment company [[American Type Founders]] (ATF) explicitly states in its 1923 manual that its goal is to "discourage unhealthy competition" in the printing industry.]] * [[Asian Racing Federation]]: The [[Asian Racing Federation]] formed a cartel, documented in the [[Good Neighbour Policy (horse racing)\|Good Neighbour Policy]] signed on September 1, 2003. * [[British Valve Association]] * [[De Beers]] * [[Quinine cartel]]: international cartel * [[Federation of Quebec Maple Syrup Producers]]: Canada's [[maple syrup]] cartel, which controls the pricing of maple syrup worldwide. Formed in 1966. Called "the OPEC of the maple syrup world" by [[The Economist]]<ref>https://www.economist.com/americas-view/2013/09/19/sticky-fingers</ref> * [[International Rail Makers Association]] * [[OPEC]]: As its name suggests, OPEC is organised by sovereign states. Under traditional legal views, it cannot be held to antitrust enforcement in other jurisdictions under the doctrine of state immunity under [[public international law]].<ref>{{cite journal \|last1=Martyniszyn \|first1=Marek \|title=Foreign State's Entanglement in Anticompetitive Conduct \|journal=World Competition \|date=2017 \|volume=40 \|issue=2 \|page=299 \|ssrn=3116910 }}</ref> * [[Phoebus cartel]] (1925–1955) for light bulbs * [[Rhenish-Westphalian Coal Syndicate]]: Worldwide, the most famous and renowned cartel of its life span (1893–1945)<ref>[[Holm Arno Leonhardt]]: ''Regionalwirtschaftliche Organisationskunst. Vorschlag zur Ergänzung des NRW-Antrags zum UNESCO-Welterbe''. In: Forum Geschichtskultur Ruhr 2013, issue 2, pp. 41–42.</ref> * [[Seven Sisters (oil companies)]] * [[Swiss Cheese Union]]: Many [[trade association]]s, especially in industries dominated by only a few major companies, have been accused of being fronts for cartels or facilitating secret meetings among cartel members. The now-defunct [[Swiss Cheese Union]] discouraged competition throughout the dairy industry in 20th century Switzerland. * [[Standard Oil]] * [[Trade union]]s: Although cartels are usually thought of as a group of [[corporation]]s, the right-wing economist Charles W. Baird considers [[trade union]]s to be cartels because they seek to raise the price of labor ([[wage]]s) by preventing [[Competition (economics)\|competition]]. [[Negotiated cartelism]] is a labor arrangement in which labor prices are held above the market-clearing level through union leverage over employers.<ref>{{cite web\|title=Unions and Antitrust\|author=Charles W. Baird\|url=http://www.cbe.csueastbay.edu/~sbesc/99septcol.html\|archive-url=https://web.archive.org/web/20100624071027/http://www.cbe.csueastbay.edu/~sbesc/99septcol.html\|archive-date=2010-06-24}}</ref> ==See also== {{div col\|colwidth=30em}} * [[Cartel seat (monument)]] * [[Drug cartel]] * [[Industrial organisation]] * [[Corporate group]] {{div col end}} ==Bibliography== * Connor, John M.: ''[https://www.researchgate.net/profile/John_Connor7/publication/5218804_Private_International_Cartels_Effectiveness_Welfare_and_Anticartel_Enforcement/links/59e8f3faa6fdccfe7fa8efc6/Private-International-Cartels-Effectiveness-Welfare-and-Anticartel-Enforcement.pdf Private international cartels. Effectiveness, welfare, and anti-cartel enforcement]''. Purdue University. [[West Lafayette]], Indiana 2003. * Fear, Jeffrey R.: ''Cartels''. In: Geoffrey Jones; Jonathan Zeitlin (ed.): The Oxford handbook of business history. Oxford: Univ. Press, 2007, p. 268–293. * Freyer, Tony A.: ''Antitrust and global capitalism 1930–2004'', New York 2006. * Hexner, Ervin, ''The International Steel Cartel'', Chapel Hill 1943. * [[Friedrich Kleinwächter\|Kleinwächter, Friedrich]], ''Die Kartelle. Ein Beitrag zur Frage der Organization der Volkswirtschaft'', Innsbruck 1883. * [[Holm Arno Leonhardt\|Leonhardt, Holm Arno]]: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013. * [[Holm Arno Leonhardt\|Leonhardt, Holm Arno]]: ''The development of cartel+ theory between 1883 and the 1930s – from international diversity to convergence: syndicats industriels, ententes, comptoirs, trusts, pools, combinations, associations, kartells, cartelle, Unternehmerverbände''. Hildesheim 2018. https://www.uni-hildesheim.de/ojs/index.php/HiBTG/article/view/77. * [[Margaret Levenstein\|Levenstein, Margaret C.]] and Valerie Y. Suslow. "What Determines Cartel Success?" ''Journal of Economic Literature'' 64 (March 2006): 43–95. * [[Robert Liefmann\|Liefmann, Robert]]: ''Cartels, Concerns and Trusts'', Ontario 2001 [London 1932] * Martyniszyn, Marek, "Export Cartels: Is it Legal to Target Your Neighbour? Analysis in Light of Recent Case Law", ''Journal of International Economic Law'' 15 (1) (2012): 181–222. * [[George J. Stigler\|Stigler, George J.]]: ''The extent and bases of monopoly''. In: ''The American economic review'', Vol. 32 (1942), pp. 1–22. * [[George W. Stocking Sr.\|Stocking, George W.]] and Myron W. Watkins: ''Cartels in Action''. New York: Twentieth Century Fund (1946). * [[George W. Stocking Sr.\|Stocking, George W.]] and Myron W. Watkins: ''Cartels or competition? The economics of international controls by business and government''. New York: Twentieth Century Fund 1948. * Strieder, Jakob: ''Studien zur Geschichte kapitalistischer Organizationsformen. Monopole, Kartelle und Aktiengesellschaften im Mittelalter und zu Beginn der Neuzeit''. München 1925. * Wells, Wyatt C.: ''Antitrust and the Formation of the Postwar World'', New York 2002. == References == {{Reflist}} ==External links== * [https://web.archive.org/web/20060904173538/http://www.agecon.purdue.edu/staff/connor/papers/PRICE%20FIXING_OVERCHARGES_FULL_TEXT_8-20-05.pdf Price-Fixing Overcharges] from [[Purdue University]] * [https://www.bbc.co.uk/news/business-13064928 BBC on cartels] {{Business organizations}} {{Authority control}} [[Category:Commercial crimes]] [[Category:Anti-competitive practices]] [[Category:Cartels]] [[Category:Imperfect competition]]'
New page wikitext, after the edit (`new_wikitext`)	'{{short description\|Mutually beneficial collusion among competing corporations}} {{About\|economic cartels}} {{more citations needed\|date=December 2019}} {{wikt\|cartel}} {{Competition law}} [[File:RWKS Syndikatsgebäude-2.jpg\|thumb\|Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910]] A '''cartel''' is a group of independent market participants who [[Collusion\|collude]] with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes [[price fixing]], bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is [[cartel theory]]. Cartels are distinguished from other forms of collusion or anti-competitive organization such as [[corporate merger]]s. == Etymology == The word ''cartel'' comes from the Italian word ''[[wikt:cartello\|cartello]]'', which means a "leaf of paper" or "placard". The Italian word became ''cartel'' in [[Middle French]], which was borrowed into English. Its current use in Mexican and Colombian drug-trafficking world comes from Spanish ''cartel''. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange of prisoners.<ref>{{Cite web\|url=https://www.merriam-webster.com/dictionary/cartel\|title=Definition of CARTEL\|website=www.merriam-webster.com\|language=en\|access-date=2019-11-29}}</ref> == History == Cartels have existed since ancient times.<ref>Hans-Heinrich Barnikel: ''Kartelle in Deutschland.'' In: Ders. (Hrsg.): ''Theorie und Praxis der Kartelle'', Darmstadt 1972, S. 1.</ref> [[Guild]]s in the European [[Middle Ages]], associations of craftsmen or merchants of the same trade, have been regarded as cartel-like.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, p. 79.</ref> Tightly organized sales cartels in the mining industry of the late Middle Ages, like the 1301 salt syndicate in [[Kingdom of France (987–1498)\|France]] and [[Kingdom of Naples\|Naples]], or the [[Alaun]] cartel of 1470 between the [[Papal State]] and Naples.<ref>Nino Herlitzka: ''Bemerkungen zur historischen Entwicklung von Kartellen.'' In: Ludwig Kastl (Ed.): ''Kartelle in der Wirklichkeit.'' Köln 1963, p. 124–127.</ref> Both unions had common sales organizations for overall production called the ''Societas Communis Vendicionis'' [Common Sales Society]. [[Laissez-faire]] (liberal) economic conditions dominated Europe and North America in the 18th and 19th centuries. Around 1870, cartels first appeared in industries formerly under [[free-market]] conditions.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, S. 80–87.</ref> Although cartels existed in all economically developed countries, the core area of cartel activities was in central Europe. The [[German Empire]] and [[Austria-Hungary]] were nicknamed the "lands of the cartels".<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013, S. 83–84.</ref> Cartels were also widespread in the United States during the period of [[Robber baron (industrialist)\|robber baron]]s and industrial [[Trust (business)\|trust]]s.<ref>Holm Arno Leonhardt: The development of cartel theory between 1883 and the 1930s. Hildesheim 2018. p. 18.</ref> The creation of cartels increased globally after [[World War I\|World War I]]. They became the leading form of [[industrial organisation\|market organization]], particularly in Europe and Japan. In the 1930s, authoritarian regimes such as [[Nazi Germany]], Italy under [[Mussolini]], and Spain under [[Francisco Franco\|Franco]] used cartels to organize their [[Economics of fascism\|corporatist economies]]. Between the late 19th century and around 1945, the United States was ambivalent about cartels and trusts. There were periods of both opposition to [[market concentration]] and relative tolerance of cartels. During [[World War II\|World War II]], the United States strictly turned away from cartels.<ref>Holm A. Leonhardt: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien''. Hildesheim 2013, p. 251–292.</ref> After 1945, American-promoted [[Economic liberalism\|market liberalism]] led to a worldwide cartel ban, where cartels continue to be obstructed in an increasing number of countries and circumstances. == Types == Cartels have many structures and functions. Typologies have emerged to distinguish distinct forms of cartels:<ref>Jeffrey R. Fear: Cartels. In: Geoffrey Jones; Jonathan Zeitlin (ed.): The Oxford handbook of business history. Oxford: Univ. Press, 2007, p. 269–274; [[Robert Liefmann]]: ''Cartels, Concerns and Trusts'', Ontario 2001 [London 1932], p. 63–71.</ref> * Selling or buying cartels unite against the cartel's customers or suppliers, respectively. The former type is more frequent than the latter. * Domestic cartels only have members from one country, whereas international cartels have members from more than one country.<ref>{{Cite book\|title=Regulating Competition: Cartel registers in the twentieth-century world\|last1=Fellman\|first1=Susanna\|last2=Shanahan\|first2=Martin\|publisher=Routledge\|year=2015\|isbn=9781138021648\|location=London\|pages=224}}</ref> There have been full-fledged international cartels that have comprised the whole world, such as the international steel cartel of the period between World War I and II. * Price cartels engage in [[price fixing]], normally to raise [[price]]s for a commodity above the competitive price level. The loosest form of a price cartel can be recognized in [[tacit collusion]], wherein smaller enterprises follow the actions of a [[market leader]]. * Quota cartels distribute proportional shares of the market to their members. * Common sales cartels sell their joint [[Output (economics)\|output]] through a central selling agency (in [[French language\|French]]: ''[[wikt:comptoir\|comptoir]]''). They are also known as [[syndicate]]s (French: ''syndicat industriel''). * Territorial cartels distribute districts of the market to be used only by individual participants, which act as [[monopolist]]s. * Submission cartels control offers given to [[Tender offer\|public tenders]]. They use [[bid rigging]]: bidders for a tender agree on a bid price. They then do not bid in unison, or share the return from the winning bid among themselves.<ref>John M. Connor and Dan Werner. Variation in Bid-Rigging Cartels' Overcharges: SSRN Working Paper No. 3273988. (October 27, 2018). [http://ssrn.com/abstract=3273988\|Abstract].</ref> * Technology and [[patent]] cartels share knowledge about technology or science within themselves while they limit the information from outside individuals. * Condition cartels unify [[contractual term]]s – the modes of [[payment]] and delivery, or [[warranty]] limits. * [[Standardization]] cartels implement common standards for sold or purchased products. If the members of a cartel produce different sorts or grades of a good, conversion factors are applied to calculate the value of the respective output. * [[Compulsory cartel]]s, also called "forced cartels", are established or maintained by external pressure. Voluntary cartels are formed by the free will of their participants. == Effects == A survey of hundreds of published economic studies and legal decisions of antitrust authorities found that the median price increase achieved by cartels in the last 200 years is about 23 percent. Private international cartels (those with participants from two or more nations) had an average price increase of 28 percent, whereas domestic cartels averaged 18 percent. Less than 10 percent of all cartels in the sample failed to raise market prices.<ref>John M. Connor. Cartel Overcharges, p. 249–387 of The Law and Economics of Class Actions, in Vol. 29 of Research in Law and Economics, edited by James Langenfeld (March 2014). Bingley, UK: Emerald House Publishing Ltd. June 2017</ref> In general, cartel agreements are economically unstable in that there is an [[incentive]] for members to cheat by selling at below the cartel's agreed price or selling more than the cartel's production quotas. Many cartels that attempt to set product prices are unsuccessful in the long term. Empirical studies of 20th-century cartels have determined that the mean duration of discovered cartels is from 5 to 8 years.<ref>[[Margaret Levenstein\|Levenstein, Margaret C.]] and Valerie Y. Suslow. "What Determines Cartel Success?" Journal of Economic Literature 64 (March 2006): 43–95</ref> Once a cartel is broken, the incentives to form a new cartel return, and the cartel may be re-formed. Publicly known cartels that do not follow this [[business cycle]] include, by some accounts, OPEC. Cartels often practice price fixing internationally. When the agreement to control prices is sanctioned by a multilateral treaty or protected by national sovereignty, no antitrust actions may be initiated.<ref>Connor, John M. ''Private International Cartels: A Concise Introduction: SSRN Working Paper.'' (November 12, 2014). [http://ssrn.com/abstract=2523883 Abstract].</ref> OPEC countries partially control the price of oil, and the [[International Air Transport Association]] (IATA) fixes prices for international airline tickets while the organization is excepted from antitrust law.<ref>{{Cite journal\| last=Hannigan\| first=John A.\|date=1982\|title=Unfriendly Skies: The Decline of the World Aviation Cartel\| journal=The Pacific Sociological Review\| volume=25 \|issue=1\| pages=107–136\| doi=10.2307/1388890\| issn=0030-8919\| jstor=1388890\| s2cid=158297510}}</ref><ref>{{Cite journal \| last=Koffler\| first=Warren\|date=Spring 1966\|title=IATA: It's legal structure - A critical review\| url=https://heinonline.org/HOL/Page?handle=hein.journals/jalc32&id=238&collection=journals&index=\| journal=Journal of Air Law and Commerce \| volume=32\| pages=222–235\| via=HeinOnline}}</ref> == Organization == Drawing upon research on organizational misconduct, scholars in economics, sociology and management have studied the organization of cartels.<ref>{{Cite journal\|last1=Faulkner\|first1=Robert R.\|last2=Cheney\|first2=Eric R.\|last3=Fisher\|first3=Gene A.\|last4=Baker\|first4=Wayne E.\|date=2003\|title=Crime by Committee: Conspirators and Company Men in the Illegal Electrical Industry Cartel, 1954–1959\|journal=Criminology\|language=en\|volume=41\|issue=2\|pages=511–554\|doi=10.1111/j.1745-9125.2003.tb00996.x\|issn=1745-9125}}</ref><ref>{{Cite journal\|last1=Genesove\|first1=David\|last2=Mullin\|first2=Wallace P\|date=2001\|title=Rules, Communication, and Collusion: Narrative Evidence from the Sugar Institute Case\|journal=American Economic Review\|language=en\|volume=91\|issue=3\|pages=379–398\|doi=10.1257/aer.91.3.379\|s2cid=153786791\|issn=0002-8282\|url=http://www.nber.org/papers/w8145.pdf}}</ref> They have paid attention to the way cartel participants work together to conceal their activities from antitrust authorities. Even more than reaching efficiency, participating firms need to ensure that their collective secret is maintained.<ref>{{Cite journal\|last1=Baker\|first1=Wayne E.\|last2=Faulkner\|first2=Robert R.\|date=1993\|title=The Social Organization of Conspiracy: Illegal Networks in the Heavy Electrical Equipment Industry\|journal=American Sociological Review\|volume=58\|issue=6\|pages=837\|doi=10.2307/2095954\|jstor=2095954}}</ref> It has also been argued that the diversity of the participants (e.g., age and size of the firms) influences their ability to coordinate to avoid being detected.<ref>{{Cite journal\|last1=Bertrand\|first1=Olivier\|last2=Lumineau\|first2=Fabrice\|date=2016\|title=Partners in Crime: The Effects of Diversity on the Longevity of Cartels\|journal=Academy of Management Journal\|volume=59\|issue=3\|pages=983–1008\|doi=10.5465/amj.2013.1209\|s2cid=143383363\|issn=0001-4273}}</ref> == Cartel theory versus antitrust concept == The scientific analysis of cartels is based on [[cartel theory]]. It was pioneered in 1883 by the Austrian economist [[Friedrich Kleinwächter]] and in its early stages was developed mainly by German-speaking scholars.<ref>Holm Arno Leonhardt: The development of cartel theory between 1883 and the 1930s. Hildesheim 2018.</ref> These scholars tended to regard cartels as an acceptable part of the economy. At the same time, American lawyers increasingly turned against [[trade restrictions]], including all cartels. The [[Sherman Antitrust Act of 1890\|Sherman act]], which impeded the formation and activities of cartels, was passed in the United States in 1890. The American viewpoint, supported by activists like [[Thurman Arnold]] and [[Harley M. Kilgore]], eventually prevailed when governmental policy in Washington could have a larger impact in World War II. == Legislation == Because cartels are likely to have an impact on market positions, they are subjected to [[competition law]], which is executed by governmental [[competition regulator]]s. Very similar regulations apply to [[corporate merger]]s. A single entity that holds a [[monopoly]] is not considered a cartel but can be sanctioned through other abuses of its monopoly. Prior to World War II, members of cartels could sign contracts that were enforceable in courts of law except in the United States. Before 1945, cartels were tolerated in Europe and specifically promoted as a business practice in German-speaking countries.<ref>{{Cite book\|title=Competition Policy in the European Union\|last1=Cini\|first1=Michelle\|last2=McGowan\|first2=Lee\|publisher=Palgrave Macmillan\|year=2009\|isbn=978-0-230-00675-1\|location=New York\|pages=63}}</ref> In ''U.S. v. National Lead Co. et al.'', the [[Supreme Court of the United States]] noted the testimony of individuals who cited that a cartel, in its versatile form, is {{blockquote\|a combination of producers for the purpose of regulating production and, frequently, prices, and an association by agreement of companies or sections of companies having common interests so as to prevent extreme or unfair competition.<ref>{{Cite book\|title=Strategies to Achieve a Binding International Agreement on Regulating Cartels: Overcoming Doha Standstill\|last=Lee\|first=John\|publisher=Springer\|year=2016\|isbn=978-981-10-2755-0\|location=Berlin\|pages=13}}</ref>}} Today, price fixing by private entities is illegal under the antitrust laws of more than 140 countries. The commodities of prosecuted international cartels include [[lysine]], [[citric acid]], [[graphite]] [[electrode]]s, and bulk [[vitamin]]s.<ref>Connor, John M. (2008): ''Global Price Fixing: 2nd Paperback Edition''. Heidelberg: Springer.</ref> In many countries, the predominant belief is that cartels are contrary to free and fair competition, considered the backbone of political democracy.<ref>{{Cite book\|title=Controlling International Technology Transfer: Issues, Perspectives, and Policy Implications\|last1=Sagafi-Nejad\|first1=Tagi\|last2=Moxon\|first2=Richard\|last3=Perlmutter\|first3=Howard\|publisher=Pergamon Press\|year=2017\|isbn=978-0-08-027180-4\|location=New York\|pages=180}}</ref> Maintaining cartels continues to become harder for cartels. Even if international cartels cannot be regulated as a whole by individual nations, their individual activities in domestic markets are affected.<ref>Fellman & Shanahan, p. 224.</ref> Unlike other cartels, export cartels are legal in virtually all jurisdictions, despite their harmful effects on affected markets.<ref>{{cite journal \|last1=Martyniszyn \|first1=Marek \|title=Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law \|journal=Journal of International Economic Law \|date=2012 \|volume=15 \|issue=1 \|page=181 \|doi=10.1093/jiel/jgs003 \|s2cid=153887704 \|url=https://pure.qub.ac.uk/en/publications/export-cartels-is-it-legal-to-target-your-neighbour-analysis-in-light-of-recent-case-law(76b0a369-a9db-4f5e-aadb-7ffdc7b84164).html }}</ref> ==See also== {{div col\|colwidth=30em}} * [[Cartel seat (monument)]] * [[Drug cartel]] * [[Industrial organisation]] * [[Corporate group]] {{div col end}} ==Bibliography== * Connor, John M.: ''[https://www.researchgate.net/profile/John_Connor7/publication/5218804_Private_International_Cartels_Effectiveness_Welfare_and_Anticartel_Enforcement/links/59e8f3faa6fdccfe7fa8efc6/Private-International-Cartels-Effectiveness-Welfare-and-Anticartel-Enforcement.pdf Private international cartels. Effectiveness, welfare, and anti-cartel enforcement]''. Purdue University. [[West Lafayette]], Indiana 2003. * Fear, Jeffrey R.: ''Cartels''. In: Geoffrey Jones; Jonathan Zeitlin (ed.): The Oxford handbook of business history. Oxford: Univ. Press, 2007, p. 268–293. * Freyer, Tony A.: ''Antitrust and global capitalism 1930–2004'', New York 2006. * Hexner, Ervin, ''The International Steel Cartel'', Chapel Hill 1943. * [[Friedrich Kleinwächter\|Kleinwächter, Friedrich]], ''Die Kartelle. Ein Beitrag zur Frage der Organization der Volkswirtschaft'', Innsbruck 1883. * [[Holm Arno Leonhardt\|Leonhardt, Holm Arno]]: ''Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien'', Hildesheim 2013. * [[Holm Arno Leonhardt\|Leonhardt, Holm Arno]]: ''The development of cartel+ theory between 1883 and the 1930s – from international diversity to convergence: syndicats industriels, ententes, comptoirs, trusts, pools, combinations, associations, kartells, cartelle, Unternehmerverbände''. Hildesheim 2018. https://www.uni-hildesheim.de/ojs/index.php/HiBTG/article/view/77. * [[Margaret Levenstein\|Levenstein, Margaret C.]] and Valerie Y. Suslow. "What Determines Cartel Success?" ''Journal of Economic Literature'' 64 (March 2006): 43–95. * [[Robert Liefmann\|Liefmann, Robert]]: ''Cartels, Concerns and Trusts'', Ontario 2001 [London 1932] * Martyniszyn, Marek, "Export Cartels: Is it Legal to Target Your Neighbour? Analysis in Light of Recent Case Law", ''Journal of International Economic Law'' 15 (1) (2012): 181–222. * [[George J. Stigler\|Stigler, George J.]]: ''The extent and bases of monopoly''. In: ''The American economic review'', Vol. 32 (1942), pp. 1–22. * [[George W. Stocking Sr.\|Stocking, George W.]] and Myron W. Watkins: ''Cartels in Action''. New York: Twentieth Century Fund (1946). * [[George W. Stocking Sr.\|Stocking, George W.]] and Myron W. Watkins: ''Cartels or competition? The economics of international controls by business and government''. New York: Twentieth Century Fund 1948. * Strieder, Jakob: ''Studien zur Geschichte kapitalistischer Organizationsformen. Monopole, Kartelle und Aktiengesellschaften im Mittelalter und zu Beginn der Neuzeit''. München 1925. * Wells, Wyatt C.: ''Antitrust and the Formation of the Postwar World'', New York 2002. == References == {{Reflist}} ==External links== * [https://web.archive.org/web/20060904173538/http://www.agecon.purdue.edu/staff/connor/papers/PRICE%20FIXING_OVERCHARGES_FULL_TEXT_8-20-05.pdf Price-Fixing Overcharges] from [[Purdue University]] * [https://www.bbc.co.uk/news/business-13064928 BBC on cartels] {{Business organizations}} {{Authority control}} [[Category:Commercial crimes]] [[Category:Anti-competitive practices]] [[Category:Cartels]] [[Category:Imperfect competition]]'
Unified diff of changes made by edit (`edit_diff`)	'@@ -53,20 +53,4 @@ Unlike other cartels, export cartels are legal in virtually all jurisdictions, despite their harmful effects on affected markets.<ref>{{cite journal \|last1=Martyniszyn \|first1=Marek \|title=Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law \|journal=Journal of International Economic Law \|date=2012 \|volume=15 \|issue=1 \|page=181 \|doi=10.1093/jiel/jgs003 \|s2cid=153887704 \|url=https://pure.qub.ac.uk/en/publications/export-cartels-is-it-legal-to-target-your-neighbour-analysis-in-light-of-recent-case-law(76b0a369-a9db-4f5e-aadb-7ffdc7b84164).html }}</ref> - -==Examples== -[[File:ATF policy.jpg\|thumb\|The printing equipment company [[American Type Founders]] (ATF) explicitly states in its 1923 manual that its goal is to "discourage unhealthy competition" in the printing industry.]] -* [[Asian Racing Federation]]: The [[Asian Racing Federation]] formed a cartel, documented in the [[Good Neighbour Policy (horse racing)\|Good Neighbour Policy]] signed on September 1, 2003. -* [[British Valve Association]] -* [[De Beers]] -* [[Quinine cartel]]: international cartel -* [[Federation of Quebec Maple Syrup Producers]]: Canada's [[maple syrup]] cartel, which controls the pricing of maple syrup worldwide. Formed in 1966. Called "the OPEC of the maple syrup world" by [[The Economist]]<ref>https://www.economist.com/americas-view/2013/09/19/sticky-fingers</ref> -* [[International Rail Makers Association]] -* [[OPEC]]: As its name suggests, OPEC is organised by sovereign states. Under traditional legal views, it cannot be held to antitrust enforcement in other jurisdictions under the doctrine of state immunity under [[public international law]].<ref>{{cite journal \|last1=Martyniszyn \|first1=Marek \|title=Foreign State's Entanglement in Anticompetitive Conduct \|journal=World Competition \|date=2017 \|volume=40 \|issue=2 \|page=299 \|ssrn=3116910 }}</ref> -* [[Phoebus cartel]] (1925–1955) for light bulbs -* [[Rhenish-Westphalian Coal Syndicate]]: Worldwide, the most famous and renowned cartel of its life span (1893–1945)<ref>[[Holm Arno Leonhardt]]: ''Regionalwirtschaftliche Organisationskunst. Vorschlag zur Ergänzung des NRW-Antrags zum UNESCO-Welterbe''. In: Forum Geschichtskultur Ruhr 2013, issue 2, pp. 41–42.</ref> -* [[Seven Sisters (oil companies)]] -* [[Swiss Cheese Union]]: Many [[trade association]]s, especially in industries dominated by only a few major companies, have been accused of being fronts for cartels or facilitating secret meetings among cartel members. The now-defunct [[Swiss Cheese Union]] discouraged competition throughout the dairy industry in 20th century Switzerland. -* [[Standard Oil]] -* [[Trade union]]s: Although cartels are usually thought of as a group of [[corporation]]s, the right-wing economist Charles W. Baird considers [[trade union]]s to be cartels because they seek to raise the price of labor ([[wage]]s) by preventing [[Competition (economics)\|competition]]. [[Negotiated cartelism]] is a labor arrangement in which labor prices are held above the market-clearing level through union leverage over employers.<ref>{{cite web\|title=Unions and Antitrust\|author=Charles W. Baird\|url=http://www.cbe.csueastbay.edu/~sbesc/99septcol.html\|archive-url=https://web.archive.org/web/20100624071027/http://www.cbe.csueastbay.edu/~sbesc/99septcol.html\|archive-date=2010-06-24}}</ref> ==See also== '
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Parsed HTML source of the new revision (`new_html`)	'<div class="mw-parser-output"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Mutually beneficial collusion among competing corporations</div> <div role="note" class="hatnote navigation-not-searchable">This article is about economic cartels. For other uses, see <a href="/enwiki/wiki/Cartel_(disambiguation)" class="mw-disambig" title="Cartel (disambiguation)">Cartel (disambiguation)</a>.</div> <table class="box-More_citations_needed plainlinks metadata ambox ambox-content ambox-Refimprove" role="presentation"><tbody><tr><td class="mbox-image"><div style="width:52px"><a href="/enwiki/wiki/File:Question_book-new.svg" class="image"><img alt="" src="/upwiki/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" srcset="/upwiki/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, /upwiki/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></div></td><td class="mbox-text"><div class="mbox-text-span">This article <b>needs additional citations for <a href="/enwiki/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verification</a></b>.<span class="hide-when-compact"> Please help <a class="external text" href="https://en.wikipedia.org/enwiki/w/index.php?title=Cartel&action=edit">improve this article</a> by <a href="/enwiki/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and removed.<br /><small><span class="plainlinks"><i>Find sources:</i> <a rel="nofollow" class="external text" href="/enwiki//www.google.com/search?as_eq=wikipedia&q=%22Cartel%22">"Cartel"</a> – <a rel="nofollow" class="external text" href="/enwiki//www.google.com/search?tbm=nws&q=%22Cartel%22+-wikipedia">news</a> <b>·</b> <a rel="nofollow" class="external text" href="/enwiki//www.google.com/search?&q=%22Cartel%22+site:news.google.com/newspapers&source=newspapers">newspapers</a> <b>·</b> <a rel="nofollow" class="external text" href="/enwiki//www.google.com/search?tbs=bks:1&q=%22Cartel%22+-wikipedia">books</a> <b>·</b> <a rel="nofollow" class="external text" href="/enwiki//scholar.google.com/scholar?q=%22Cartel%22">scholar</a> <b>·</b> <a rel="nofollow" class="external text" href="https://www.jstor.org/action/doBasicSearch?Query=%22Cartel%22&acc=on&wc=on">JSTOR</a></span></small></span> <small class="date-container"><i>(<span class="date">December 2019</span>)</i></small><small class="hide-when-compact"><i> (<a href="/enwiki/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a>)</i></small></div></td></tr></tbody></table> <table role="presentation" class="mbox-small plainlinks sistersitebox" style="background-color:#f9f9f9;border:1px solid #aaa;color:#000"> <tbody><tr> <td class="mbox-image"><img alt="" src="/upwiki/wikipedia/commons/thumb/9/99/Wiktionary-logo-en-v2.svg/40px-Wiktionary-logo-en-v2.svg.png" decoding="async" width="40" height="40" class="noviewer" srcset="/upwiki/wikipedia/commons/thumb/9/99/Wiktionary-logo-en-v2.svg/60px-Wiktionary-logo-en-v2.svg.png 1.5x, /upwiki/wikipedia/commons/thumb/9/99/Wiktionary-logo-en-v2.svg/80px-Wiktionary-logo-en-v2.svg.png 2x" data-file-width="512" data-file-height="512" /></td> <td class="mbox-text plainlist">Look up <i><b><a href="https://en.wiktionary.org/wiki/cartel" class="extiw" title="wiktionary:cartel">cartel</a></b></i> in Wiktionary, the free dictionary.</td></tr> </tbody></table> <style data-mw-deduplicate="TemplateStyles:r1013635363">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:#f8f9fa;border:1px solid #aaa;padding:0.2em;border-spacing:0.4em 0;text-align:center;line-height:1.4em;font-size:88%;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar a{white-space:nowrap}.mw-parser-output .sidebar-wraplinks a{white-space:normal}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding-bottom:0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output 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href="/enwiki/wiki/Herfindahl%E2%80%93Hirschman_Index" title="Herfindahl–Hirschman Index">Herfindahl–Hirschman Index</a></li> <li><a href="/enwiki/wiki/Market_concentration" title="Market concentration">Market concentration</a></li> <li><a href="/enwiki/wiki/Market_power" title="Market power">Market power</a></li> <li><a href="/enwiki/wiki/Small_but_significant_and_non-transitory_increase_in_price" title="Small but significant and non-transitory increase in price">SSNIP test</a></li> <li><a href="/enwiki/wiki/Relevant_market" title="Relevant market">Relevant market</a></li> <li><a href="/enwiki/wiki/Merger_control" title="Merger control">Merger control</a></li></ul></td> </tr><tr><th class="sidebar-heading" style="background:#98FB98;"> <a href="/enwiki/wiki/Anti-competitive_practices" title="Anti-competitive practices">Anti-competitive practices</a></th></tr><tr><td class="sidebar-content" style="text-align: left"> <ul><li><a href="/enwiki/wiki/Monopolization" title="Monopolization">Monopolization</a></li> <li><a href="/enwiki/wiki/Collusion" title="Collusion">Collusion</a> <ul><li>Formation of <a class="mw-selflink selflink">cartels</a></li> <li><a href="/enwiki/wiki/Price_fixing" title="Price fixing">Price fixing</a></li> <li><a href="/enwiki/wiki/Bid_rigging" title="Bid rigging">Bid rigging</a></li> <li><a href="/enwiki/wiki/Tacit_collusion" title="Tacit collusion">Tacit collusion</a></li></ul></li> <li><a href="/enwiki/wiki/Product_bundling" title="Product bundling">Product bundling</a> and <a href="/enwiki/wiki/Tying_(commerce)" title="Tying (commerce)">tying</a></li> <li><a href="/enwiki/wiki/Refusal_to_deal" title="Refusal to deal">Refusal to deal</a> <ul><li><a href="/enwiki/wiki/Group_boycott" title="Group boycott">Group boycott</a></li> <li><a href="/enwiki/wiki/Essential_facilities_doctrine" title="Essential facilities doctrine">Essential facilities</a></li></ul></li> <li><a href="/enwiki/wiki/Exclusive_dealing" title="Exclusive 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/upwiki/wikipedia/commons/thumb/7/72/RWKS_Syndikatsgeb%C3%A4ude-2.jpg/440px-RWKS_Syndikatsgeb%C3%A4ude-2.jpg 2x" data-file-width="1937" data-file-height="1491" /></a> <div class="thumbcaption"><div class="magnify"><a href="/enwiki/wiki/File:RWKS_Syndikatsgeb%C3%A4ude-2.jpg" class="internal" title="Enlarge"></a></div>Headquarters of the Rhenish-Westphalian Coal Syndicate, Germany (at times the best known cartel in the world), around 1910</div></div></div> <p>A <b>cartel</b> is a group of independent market participants who <a href="/enwiki/wiki/Collusion" title="Collusion">collude</a> with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior and have outlawed such practices. Cartel behavior includes <a href="/enwiki/wiki/Price_fixing" title="Price fixing">price fixing</a>, bid rigging, and reductions in output. The doctrine in economics that analyzes cartels is <a href="/enwiki/wiki/Cartel_theory" title="Cartel theory">cartel theory</a>. Cartels are distinguished from other forms of collusion or anti-competitive organization such as <a href="/enwiki/wiki/Corporate_merger" class="mw-redirect" title="Corporate merger">corporate mergers</a>. </p> <div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none" /><div class="toctitle" lang="en" dir="ltr"><h2 id="mw-toc-heading">Contents</h2><span class="toctogglespan"><label class="toctogglelabel" for="toctogglecheckbox"></label></span></div> <ul> <li class="toclevel-1 tocsection-1"><a href="#Etymology"><span class="tocnumber">1</span> <span class="toctext">Etymology</span></a></li> <li class="toclevel-1 tocsection-2"><a href="#History"><span class="tocnumber">2</span> <span class="toctext">History</span></a></li> <li class="toclevel-1 tocsection-3"><a href="#Types"><span class="tocnumber">3</span> <span class="toctext">Types</span></a></li> <li class="toclevel-1 tocsection-4"><a href="#Effects"><span class="tocnumber">4</span> <span class="toctext">Effects</span></a></li> <li class="toclevel-1 tocsection-5"><a href="#Organization"><span class="tocnumber">5</span> <span class="toctext">Organization</span></a></li> <li class="toclevel-1 tocsection-6"><a href="#Cartel_theory_versus_antitrust_concept"><span class="tocnumber">6</span> <span class="toctext">Cartel theory versus antitrust concept</span></a></li> <li class="toclevel-1 tocsection-7"><a href="#Legislation"><span class="tocnumber">7</span> <span class="toctext">Legislation</span></a></li> <li class="toclevel-1 tocsection-8"><a href="#See_also"><span class="tocnumber">8</span> <span class="toctext">See also</span></a></li> <li class="toclevel-1 tocsection-9"><a href="#Bibliography"><span class="tocnumber">9</span> <span class="toctext">Bibliography</span></a></li> <li class="toclevel-1 tocsection-10"><a href="#References"><span class="tocnumber">10</span> <span class="toctext">References</span></a></li> <li class="toclevel-1 tocsection-11"><a href="#External_links"><span class="tocnumber">11</span> <span class="toctext">External links</span></a></li> </ul> </div> <h2><span class="mw-headline" id="Etymology">Etymology</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=1" title="Edit section: Etymology">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>The word <i>cartel</i> comes from the Italian word <i><a href="https://en.wiktionary.org/wiki/cartello" class="extiw" title="wikt:cartello">cartello</a></i>, which means a "leaf of paper" or "placard". The Italian word became <i>cartel</i> in <a href="/enwiki/wiki/Middle_French" title="Middle French">Middle French</a>, which was borrowed into English. Its current use in Mexican and Colombian drug-trafficking world comes from Spanish <i>cartel</i>. In English, the word was originally used for a written agreement between warring nations to regulate the treatment and exchange of prisoners.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1">[1]</a></sup> </p> <h2><span class="mw-headline" id="History">History</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=2" title="Edit section: History">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>Cartels have existed since ancient times.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2">[2]</a></sup> <a href="/enwiki/wiki/Guild" title="Guild">Guilds</a> in the European <a href="/enwiki/wiki/Middle_Ages" title="Middle Ages">Middle Ages</a>, associations of craftsmen or merchants of the same trade, have been regarded as cartel-like.<sup id="cite_ref-3" class="reference"><a href="#cite_note-3">[3]</a></sup> Tightly organized sales cartels in the mining industry of the late Middle Ages, like the 1301 salt syndicate in <a href="/enwiki/wiki/Kingdom_of_France_(987%E2%80%931498)" class="mw-redirect" title="Kingdom of France (987–1498)">France</a> and <a href="/enwiki/wiki/Kingdom_of_Naples" title="Kingdom of Naples">Naples</a>, or the <a href="/enwiki/wiki/Alaun" class="mw-redirect" title="Alaun">Alaun</a> cartel of 1470 between the <a href="/enwiki/wiki/Papal_State" class="mw-redirect" title="Papal State">Papal State</a> and Naples.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4">[4]</a></sup> Both unions had common sales organizations for overall production called the <i>Societas Communis Vendicionis</i> [Common Sales Society]. </p><p><a href="/enwiki/wiki/Laissez-faire" title="Laissez-faire">Laissez-faire</a> (liberal) economic conditions dominated Europe and North America in the 18th and 19th centuries. Around 1870, cartels first appeared in industries formerly under <a href="/enwiki/wiki/Free-market" class="mw-redirect" title="Free-market">free-market</a> conditions.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5">[5]</a></sup> Although cartels existed in all economically developed countries, the core area of cartel activities was in central Europe. The <a href="/enwiki/wiki/German_Empire" title="German Empire">German Empire</a> and <a href="/enwiki/wiki/Austria-Hungary" title="Austria-Hungary">Austria-Hungary</a> were nicknamed the "lands of the cartels".<sup id="cite_ref-6" class="reference"><a href="#cite_note-6">[6]</a></sup> Cartels were also widespread in the United States during the period of <a href="/enwiki/wiki/Robber_baron_(industrialist)" title="Robber baron (industrialist)">robber barons</a> and industrial <a href="/enwiki/wiki/Trust_(business)" title="Trust (business)">trusts</a>.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7">[7]</a></sup> </p><p>The creation of cartels increased globally after <a href="/enwiki/wiki/World_War_I" title="World War I">World War I</a>. They became the leading form of <a href="/enwiki/wiki/Industrial_organisation" class="mw-redirect" title="Industrial organisation">market organization</a>, particularly in Europe and Japan. In the 1930s, authoritarian regimes such as <a href="/enwiki/wiki/Nazi_Germany" title="Nazi Germany">Nazi Germany</a>, Italy under <a href="/enwiki/wiki/Mussolini" class="mw-redirect" title="Mussolini">Mussolini</a>, and Spain under <a href="/enwiki/wiki/Francisco_Franco" title="Francisco Franco">Franco</a> used cartels to organize their <a href="/enwiki/wiki/Economics_of_fascism" title="Economics of fascism">corporatist economies</a>. Between the late 19th century and around 1945, the United States was ambivalent about cartels and trusts. There were periods of both opposition to <a href="/enwiki/wiki/Market_concentration" title="Market concentration">market concentration</a> and relative tolerance of cartels. During <a href="/enwiki/wiki/World_War_II" title="World War II">World War II</a>, the United States strictly turned away from cartels.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8">[8]</a></sup> After 1945, American-promoted <a href="/enwiki/wiki/Economic_liberalism" title="Economic liberalism">market liberalism</a> led to a worldwide cartel ban, where cartels continue to be obstructed in an increasing number of countries and circumstances. </p> <h2><span class="mw-headline" id="Types">Types</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=3" title="Edit section: Types">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>Cartels have many structures and functions. Typologies have emerged to distinguish distinct forms of cartels:<sup id="cite_ref-9" class="reference"><a href="#cite_note-9">[9]</a></sup> </p> <ul><li>Selling or buying cartels unite against the cartel's customers or suppliers, respectively. The former type is more frequent than the latter.</li> <li>Domestic cartels only have members from one country, whereas international cartels have members from more than one country.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10">[10]</a></sup> There have been full-fledged international cartels that have comprised the whole world, such as the international steel cartel of the period between World War I and II.</li> <li>Price cartels engage in <a href="/enwiki/wiki/Price_fixing" title="Price fixing">price fixing</a>, normally to raise <a href="/enwiki/wiki/Price" title="Price">prices</a> for a commodity above the competitive price level. The loosest form of a price cartel can be recognized in <a href="/enwiki/wiki/Tacit_collusion" title="Tacit collusion">tacit collusion</a>, wherein smaller enterprises follow the actions of a <a href="/enwiki/wiki/Market_leader" class="mw-redirect" title="Market leader">market leader</a>.</li> <li>Quota cartels distribute proportional shares of the market to their members.</li> <li>Common sales cartels sell their joint <a href="/enwiki/wiki/Output_(economics)" title="Output (economics)">output</a> through a central selling agency (in <a href="/enwiki/wiki/French_language" title="French language">French</a>: <i><a href="https://en.wiktionary.org/wiki/comptoir" class="extiw" title="wikt:comptoir">comptoir</a></i>). They are also known as <a href="/enwiki/wiki/Syndicate" title="Syndicate">syndicates</a> (French: <i>syndicat industriel</i>).</li> <li>Territorial cartels distribute districts of the market to be used only by individual participants, which act as <a href="/enwiki/wiki/Monopolist" class="mw-redirect" title="Monopolist">monopolists</a>.</li> <li>Submission cartels control offers given to <a href="/enwiki/wiki/Tender_offer" title="Tender offer">public tenders</a>. They use <a href="/enwiki/wiki/Bid_rigging" title="Bid rigging">bid rigging</a>: bidders for a tender agree on a bid price. They then do not bid in unison, or share the return from the winning bid among themselves.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11">[11]</a></sup></li> <li>Technology and <a href="/enwiki/wiki/Patent" title="Patent">patent</a> cartels share knowledge about technology or science within themselves while they limit the information from outside individuals.</li> <li>Condition cartels unify <a href="/enwiki/wiki/Contractual_term" title="Contractual term">contractual terms</a> – the modes of <a href="/enwiki/wiki/Payment" title="Payment">payment</a> and delivery, or <a href="/enwiki/wiki/Warranty" title="Warranty">warranty</a> limits.</li> <li><a href="/enwiki/wiki/Standardization" title="Standardization">Standardization</a> cartels implement common standards for sold or purchased products. If the members of a cartel produce different sorts or grades of a good, conversion factors are applied to calculate the value of the respective output.</li> <li><a href="/enwiki/wiki/Compulsory_cartel" title="Compulsory cartel">Compulsory cartels</a>, also called "forced cartels", are established or maintained by external pressure. Voluntary cartels are formed by the free will of their participants.</li></ul> <h2><span class="mw-headline" id="Effects">Effects</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=4" title="Edit section: Effects">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>A survey of hundreds of published economic studies and legal decisions of antitrust authorities found that the median price increase achieved by cartels in the last 200 years is about 23 percent. Private international cartels (those with participants from two or more nations) had an average price increase of 28 percent, whereas domestic cartels averaged 18 percent. Less than 10 percent of all cartels in the sample failed to raise market prices.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12">[12]</a></sup> </p><p>In general, cartel agreements are economically unstable in that there is an <a href="/enwiki/wiki/Incentive" title="Incentive">incentive</a> for members to cheat by selling at below the cartel's agreed price or selling more than the cartel's production quotas. Many cartels that attempt to set product prices are unsuccessful in the long term. Empirical studies of 20th-century cartels have determined that the mean duration of discovered cartels is from 5 to 8 years.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13">[13]</a></sup> Once a cartel is broken, the incentives to form a new cartel return, and the cartel may be re-formed. Publicly known cartels that do not follow this <a href="/enwiki/wiki/Business_cycle" title="Business cycle">business cycle</a> include, by some accounts, OPEC. </p><p>Cartels often practice price fixing internationally. When the agreement to control prices is sanctioned by a multilateral treaty or protected by national sovereignty, no antitrust actions may be initiated.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14">[14]</a></sup> OPEC countries partially control the price of oil, and the <a href="/enwiki/wiki/International_Air_Transport_Association" title="International Air Transport Association">International Air Transport Association</a> (IATA) fixes prices for international airline tickets while the organization is excepted from antitrust law.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15">[15]</a></sup><sup id="cite_ref-16" class="reference"><a href="#cite_note-16">[16]</a></sup> </p> <h2><span class="mw-headline" id="Organization">Organization</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=5" title="Edit section: Organization">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>Drawing upon research on organizational misconduct, scholars in economics, sociology and management have studied the organization of cartels.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17">[17]</a></sup><sup id="cite_ref-18" class="reference"><a href="#cite_note-18">[18]</a></sup> They have paid attention to the way cartel participants work together to conceal their activities from antitrust authorities. Even more than reaching efficiency, participating firms need to ensure that their collective secret is maintained.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19">[19]</a></sup> It has also been argued that the diversity of the participants (e.g., age and size of the firms) influences their ability to coordinate to avoid being detected.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20">[20]</a></sup> </p> <h2><span class="mw-headline" id="Cartel_theory_versus_antitrust_concept">Cartel theory versus antitrust concept</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=6" title="Edit section: Cartel theory versus antitrust concept">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>The scientific analysis of cartels is based on <a href="/enwiki/wiki/Cartel_theory" title="Cartel theory">cartel theory</a>. It was pioneered in 1883 by the Austrian economist <a href="/enwiki/wiki/Friedrich_Kleinw%C3%A4chter" title="Friedrich Kleinwächter">Friedrich Kleinwächter</a> and in its early stages was developed mainly by German-speaking scholars.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21">[21]</a></sup> These scholars tended to regard cartels as an acceptable part of the economy. At the same time, American lawyers increasingly turned against <a href="/enwiki/wiki/Trade_restrictions" class="mw-redirect" title="Trade restrictions">trade restrictions</a>, including all cartels. The <a href="/enwiki/wiki/Sherman_Antitrust_Act_of_1890" title="Sherman Antitrust Act of 1890">Sherman act</a>, which impeded the formation and activities of cartels, was passed in the United States in 1890. The American viewpoint, supported by activists like <a href="/enwiki/wiki/Thurman_Arnold" title="Thurman Arnold">Thurman Arnold</a> and <a href="/enwiki/wiki/Harley_M._Kilgore" title="Harley M. Kilgore">Harley M. Kilgore</a>, eventually prevailed when governmental policy in Washington could have a larger impact in World War II. </p> <h2><span class="mw-headline" id="Legislation">Legislation</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=7" title="Edit section: Legislation">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <p>Because cartels are likely to have an impact on market positions, they are subjected to <a href="/enwiki/wiki/Competition_law" title="Competition law">competition law</a>, which is executed by governmental <a href="/enwiki/wiki/Competition_regulator" title="Competition regulator">competition regulators</a>. Very similar regulations apply to <a href="/enwiki/wiki/Corporate_merger" class="mw-redirect" title="Corporate merger">corporate mergers</a>. A single entity that holds a <a href="/enwiki/wiki/Monopoly" title="Monopoly">monopoly</a> is not considered a cartel but can be sanctioned through other abuses of its monopoly. </p><p> Prior to World War II, members of cartels could sign contracts that were enforceable in courts of law except in the United States. Before 1945, cartels were tolerated in Europe and specifically promoted as a business practice in German-speaking countries.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22">[22]</a></sup> In <i>U.S. v. National Lead Co. et al.</i>, the <a href="/enwiki/wiki/Supreme_Court_of_the_United_States" title="Supreme Court of the United States">Supreme Court of the United States</a> noted the testimony of individuals who cited that a cartel, in its versatile form, is <style data-mw-deduplicate="TemplateStyles:r996844942">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 40px}.mw-parser-output .templatequote .templatequotecite{line-height:1.5em;text-align:left;padding-left:1.6em;margin-top:0}</style></p><blockquote class="templatequote"><p>a combination of producers for the purpose of regulating production and, frequently, prices, and an association by agreement of companies or sections of companies having common interests so as to prevent extreme or unfair competition.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23">[23]</a></sup></p></blockquote> <p>Today, price fixing by private entities is illegal under the antitrust laws of more than 140 countries. The commodities of prosecuted international cartels include <a href="/enwiki/wiki/Lysine" title="Lysine">lysine</a>, <a href="/enwiki/wiki/Citric_acid" title="Citric acid">citric acid</a>, <a href="/enwiki/wiki/Graphite" title="Graphite">graphite</a> <a href="/enwiki/wiki/Electrode" title="Electrode">electrodes</a>, and bulk <a href="/enwiki/wiki/Vitamin" title="Vitamin">vitamins</a>.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24">[24]</a></sup> In many countries, the predominant belief is that cartels are contrary to free and fair competition, considered the backbone of political democracy.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25">[25]</a></sup> Maintaining cartels continues to become harder for cartels. Even if international cartels cannot be regulated as a whole by individual nations, their individual activities in domestic markets are affected.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26">[26]</a></sup> </p><p>Unlike other cartels, export cartels are legal in virtually all jurisdictions, despite their harmful effects on affected markets.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27">[27]</a></sup> </p> <h2><span class="mw-headline" id="See_also">See also</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=8" title="Edit section: See also">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <style data-mw-deduplicate="TemplateStyles:r998391716">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 30em;"> <ul><li><a href="/enwiki/wiki/Cartel_seat_(monument)" title="Cartel seat (monument)">Cartel seat (monument)</a></li> <li><a href="/enwiki/wiki/Drug_cartel" title="Drug cartel">Drug cartel</a></li> <li><a href="/enwiki/wiki/Industrial_organisation" class="mw-redirect" title="Industrial organisation">Industrial organisation</a></li> <li><a href="/enwiki/wiki/Corporate_group" title="Corporate group">Corporate group</a></li></ul> </div> <h2><span class="mw-headline" id="Bibliography">Bibliography</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=9" title="Edit section: Bibliography">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <ul><li>Connor, John M.: <i><a rel="nofollow" class="external text" href="https://www.researchgate.net/profile/John_Connor7/publication/5218804_Private_International_Cartels_Effectiveness_Welfare_and_Anticartel_Enforcement/links/59e8f3faa6fdccfe7fa8efc6/Private-International-Cartels-Effectiveness-Welfare-and-Anticartel-Enforcement.pdf">Private international cartels. Effectiveness, welfare, and anti-cartel enforcement</a></i>. Purdue University. <a href="/enwiki/wiki/West_Lafayette" class="mw-redirect" title="West Lafayette">West Lafayette</a>, Indiana 2003.</li> <li>Fear, Jeffrey R.: <i>Cartels</i>. In: Geoffrey Jones; Jonathan Zeitlin (ed.): The Oxford handbook of business history. Oxford: Univ. Press, 2007, p. 268–293.</li> <li>Freyer, Tony A.: <i>Antitrust and global capitalism 1930–2004</i>, New York 2006.</li> <li>Hexner, Ervin, <i>The International Steel Cartel</i>, Chapel Hill 1943.</li> <li><a href="/enwiki/wiki/Friedrich_Kleinw%C3%A4chter" title="Friedrich Kleinwächter">Kleinwächter, Friedrich</a>, <i>Die Kartelle. Ein Beitrag zur Frage der Organization der Volkswirtschaft</i>, Innsbruck 1883.</li> <li><a href="/enwiki/wiki/Holm_Arno_Leonhardt" title="Holm Arno Leonhardt">Leonhardt, Holm Arno</a>: <i>Kartelltheorie und Internationale Beziehungen. Theoriegeschichtliche Studien</i>, Hildesheim 2013.</li> <li><a href="/enwiki/wiki/Holm_Arno_Leonhardt" title="Holm Arno Leonhardt">Leonhardt, Holm Arno</a>: <i>The development of cartel+ theory between 1883 and the 1930s – from international diversity to convergence: syndicats industriels, ententes, comptoirs, trusts, pools, combinations, associations, kartells, cartelle, Unternehmerverbände</i>. Hildesheim 2018. <a rel="nofollow" class="external free" href="https://www.uni-hildesheim.de/ojs/index.php/HiBTG/article/view/77">https://www.uni-hildesheim.de/ojs/index.php/HiBTG/article/view/77</a>.</li> <li><a href="/enwiki/wiki/Margaret_Levenstein" title="Margaret Levenstein">Levenstein, Margaret C.</a> and Valerie Y. Suslow. "What Determines Cartel Success?" <i>Journal of Economic Literature</i> 64 (March 2006): 43–95.</li> <li><a href="/enwiki/wiki/Robert_Liefmann" title="Robert Liefmann">Liefmann, Robert</a>: <i>Cartels, Concerns and Trusts</i>, Ontario 2001 [London 1932]</li> <li>Martyniszyn, Marek, "Export Cartels: Is it Legal to Target Your Neighbour? Analysis in Light of Recent Case Law", <i>Journal of International Economic Law</i> 15 (1) (2012): 181–222.</li> <li><a href="/enwiki/wiki/George_J._Stigler" class="mw-redirect" title="George J. Stigler">Stigler, George J.</a>: <i>The extent and bases of monopoly</i>. In: <i>The American economic review</i>, Vol. 32 (1942), pp. 1–22.</li> <li><a href="/enwiki/wiki/George_W._Stocking_Sr." title="George W. Stocking Sr.">Stocking, George W.</a> and Myron W. Watkins: <i>Cartels in Action</i>. New York: Twentieth Century Fund (1946).</li> <li><a href="/enwiki/wiki/George_W._Stocking_Sr." title="George W. Stocking Sr.">Stocking, George W.</a> and Myron W. Watkins: <i>Cartels or competition? The economics of international controls by business and government</i>. New York: Twentieth Century Fund 1948.</li> <li>Strieder, Jakob: <i>Studien zur Geschichte kapitalistischer Organizationsformen. Monopole, Kartelle und Aktiengesellschaften im Mittelalter und zu Beginn der Neuzeit</i>. 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New York: Palgrave Macmillan. p. 63. <a href="/enwiki/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/enwiki/wiki/Special:BookSources/978-0-230-00675-1" title="Special:BookSources/978-0-230-00675-1"><bdi>978-0-230-00675-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Competition+Policy+in+the+European+Union&rft.place=New+York&rft.pages=63&rft.pub=Palgrave+Macmillan&rft.date=2009&rft.isbn=978-0-230-00675-1&rft.aulast=Cini&rft.aufirst=Michelle&rft.au=McGowan%2C+Lee&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACartel" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFLee2016" class="citation book cs1">Lee, John (2016). <i>Strategies to Achieve a Binding International Agreement on Regulating Cartels: Overcoming Doha Standstill</i>. Berlin: Springer. p. 13. <a href="/enwiki/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/enwiki/wiki/Special:BookSources/978-981-10-2755-0" title="Special:BookSources/978-981-10-2755-0"><bdi>978-981-10-2755-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Strategies+to+Achieve+a+Binding+International+Agreement+on+Regulating+Cartels%3A+Overcoming+Doha+Standstill&rft.place=Berlin&rft.pages=13&rft.pub=Springer&rft.date=2016&rft.isbn=978-981-10-2755-0&rft.aulast=Lee&rft.aufirst=John&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACartel" class="Z3988"></span></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">Connor, John M. (2008): <i>Global Price Fixing: 2nd Paperback Edition</i>. Heidelberg: Springer.</span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFSagafi-NejadMoxonPerlmutter2017" class="citation book cs1">Sagafi-Nejad, Tagi; Moxon, Richard; Perlmutter, Howard (2017). <i>Controlling International Technology Transfer: Issues, Perspectives, and Policy Implications</i>. New York: Pergamon Press. p. 180. <a href="/enwiki/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/enwiki/wiki/Special:BookSources/978-0-08-027180-4" title="Special:BookSources/978-0-08-027180-4"><bdi>978-0-08-027180-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Controlling+International+Technology+Transfer%3A+Issues%2C+Perspectives%2C+and+Policy+Implications&rft.place=New+York&rft.pages=180&rft.pub=Pergamon+Press&rft.date=2017&rft.isbn=978-0-08-027180-4&rft.aulast=Sagafi-Nejad&rft.aufirst=Tagi&rft.au=Moxon%2C+Richard&rft.au=Perlmutter%2C+Howard&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACartel" class="Z3988"></span></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text">Fellman & Shanahan, p. 224.</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r999302996"/><cite id="CITEREFMartyniszyn2012" class="citation journal cs1">Martyniszyn, Marek (2012). <a rel="nofollow" class="external text" href="https://pure.qub.ac.uk/en/publications/export-cartels-is-it-legal-to-target-your-neighbour-analysis-in-light-of-recent-case-law(76b0a369-a9db-4f5e-aadb-7ffdc7b84164).html">"Export Cartels: Is it Legal to Target your Neighbour? Analysis in Light of Recent Case Law"</a>. <i>Journal of International Economic Law</i>. <b>15</b> (1): 181. <a href="/enwiki/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1093%2Fjiel%2Fjgs003">10.1093/jiel/jgs003</a>. <a href="/enwiki/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:153887704">153887704</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+International+Economic+Law&rft.atitle=Export+Cartels%3A+Is+it+Legal+to+Target+your+Neighbour%3F+Analysis+in+Light+of+Recent+Case+Law&rft.volume=15&rft.issue=1&rft.pages=181&rft.date=2012&rft_id=info%3Adoi%2F10.1093%2Fjiel%2Fjgs003&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A153887704%23id-name%3DS2CID&rft.aulast=Martyniszyn&rft.aufirst=Marek&rft_id=https%3A%2F%2Fpure.qub.ac.uk%2Fen%2Fpublications%2Fexport-cartels-is-it-legal-to-target-your-neighbour-analysis-in-light-of-recent-case-law%2876b0a369-a9db-4f5e-aadb-7ffdc7b84164%29.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3ACartel" class="Z3988"></span></span> </li> </ol></div></div> <h2><span class="mw-headline" id="External_links">External links</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/enwiki/w/index.php?title=Cartel&action=edit&section=11" title="Edit section: External links">edit</a><span class="mw-editsection-bracket">]</span></span></h2> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20060904173538/http://www.agecon.purdue.edu/staff/connor/papers/PRICE%20FIXING_OVERCHARGES_FULL_TEXT_8-20-05.pdf">Price-Fixing Overcharges</a> from <a href="/enwiki/wiki/Purdue_University" title="Purdue University">Purdue University</a></li> <li><a rel="nofollow" class="external text" href="https://www.bbc.co.uk/news/business-13064928">BBC on cartels</a></li></ul> <div role="navigation" class="navbox" aria-labelledby="Business_organizations" style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r992953826"/><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/enwiki/wiki/Template:Business_organizations" title="Template:Business organizations"><abbr title="View this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;">v</abbr></a></li><li class="nv-talk"><a href="/enwiki/wiki/Template_talk:Business_organizations" title="Template talk:Business organizations"><abbr title="Discuss this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;">t</abbr></a></li><li class="nv-edit"><a class="external text" href="https://en.wikipedia.org/enwiki/w/index.php?title=Template:Business_organizations&action=edit"><abbr title="Edit this template" style=";;background:none transparent;border:none;box-shadow:none;padding:0;">e</abbr></a></li></ul></div><div id="Business_organizations" style="font-size:114%;margin:0 4em">Business organizations</div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%">Types</th><td class="navbox-list navbox-odd hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/enwiki/wiki/Employers%27_organization" title="Employers' organization">Employers' organization</a></li> <li><a href="/enwiki/wiki/Chamber_of_commerce" title="Chamber of commerce">Chamber of commerce</a></li> <li><a href="/enwiki/wiki/Inter-professional_association" title="Inter-professional association">Inter-professional association</a></li> <li><a href="/enwiki/wiki/Trade_association" title="Trade association">Trade association</a> <ul><li><a href="/enwiki/wiki/List_of_food_industry_trade_associations" title="List of food industry trade associations">List of food industry trade associations</a></li> <li><a href="/enwiki/wiki/List_of_industry_trade_groups_in_the_United_States" title="List of industry trade groups in the United States">List of industry trade groups in the United States</a></li></ul></li> <li><a href="/enwiki/wiki/Cooperative_federation" title="Cooperative federation">Cooperative federation</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/enwiki/wiki/Corporate_group" title="Corporate group">Corporate groups</a></th><td class="navbox-list navbox-even hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/enwiki/wiki/Chaebol" title="Chaebol">Chaebol</a> (South Korea)</li> <li><a href="/enwiki/wiki/Combine_(enterprise)" title="Combine (enterprise)">Combine</a> (Russia)</li> <li><a href="/enwiki/wiki/Concern_(business)" title="Concern (business)">Concern</a> (Germany)</li> <li><a href="/enwiki/wiki/Conglomerate_(company)" title="Conglomerate (company)">Conglomerate</a> (Anglosphere)</li> <li><a href="/enwiki/wiki/Keiretsu" title="Keiretsu">Keiretsu</a> (Japan)</li> <li><a href="/enwiki/wiki/Xi_(business)" title="Xi (business)">Xi</a> (China)</li> <li><a href="/enwiki/wiki/Zaibatsu" title="Zaibatsu">Zaibatsu</a> (Japan)</li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/enwiki/wiki/Business_network" title="Business network">Business network</a></th><td class="navbox-list navbox-odd hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/enwiki/wiki/Bamboo_network" title="Bamboo network">Bamboo network</a> (Greater China and Southeast Asia)</li> <li><a href="/enwiki/wiki/Business_alliance" title="Business alliance">Business alliance</a></li> <li><a href="/enwiki/wiki/Consortium" title="Consortium">Consortium</a></li> <li><a href="/enwiki/wiki/International_joint_venture" title="International joint venture">Joint venture</a></li> <li><a href="/enwiki/wiki/Patent_pool" title="Patent pool">Patent pool</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Oppositional groups</th><td class="navbox-list navbox-even hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/enwiki/wiki/Trade_union" title="Trade union">Trade union</a></li> <li><a href="/enwiki/wiki/Consumer_organization" title="Consumer organization">Consumer organization</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">See also</th><td class="navbox-list navbox-odd hlist" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><a href="/enwiki/wiki/Business_networking" title="Business networking">Business networking</a></li> <li><a class="mw-selflink selflink">Cartel</a></li> <li><a href="/enwiki/wiki/List_of_company_registers" class="mw-redirect" title="List of company registers">Company registers</a></li></ul> </div></td></tr></tbody></table></div> <div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_frameless_&#124;text-top_&#124;10px_&#124;alt=Edit_this_at_Wikidata_&#124;link=https&#58;//www.wikidata.org/wiki/Q179216#identifiers&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th id="Authority_control_frameless_&#124;text-top_&#124;10px_&#124;alt=Edit_this_at_Wikidata_&#124;link=https&#58;//www.wikidata.org/wiki/Q179216#identifiers&#124;Edit_this_at_Wikidata" scope="row" class="navbox-group" style="width:1%"><a href="/enwiki/wiki/Help:Authority_control" title="Help:Authority control">Authority control</a> <a href="https://www.wikidata.org/wiki/Q179216#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="/upwiki/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" style="vertical-align: text-top" srcset="/upwiki/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, /upwiki/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></th><td class="navbox-list navbox-odd" style="text-align:left;border-left-width:2px;border-left-style:solid;width:100%;padding:0px"><div style="padding:0em 0.25em"> <ul><li><span class="nowrap"><a href="/enwiki/wiki/BNF_(identifier)" class="mw-redirect" title="BNF (identifier)">BNF</a>: <span class="uid"><a rel="nofollow" class="external text" href="https://catalogue.bnf.fr/ark:/12148/cb122545632">cb122545632</a> <a rel="nofollow" class="external text" href="https://data.bnf.fr/ark:/12148/cb122545632">(data)</a></span></span></li> <li><span class="nowrap"><a href="/enwiki/wiki/GND_(identifier)" class="mw-redirect" title="GND 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href="/enwiki/wiki/NDL_(identifier)" class="mw-redirect" title="NDL (identifier)">NDL</a>: <span class="uid"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00565074">00565074</a></span></span></li></ul> </div></td></tr></tbody></table></div> '
Whether or not the change was made through a Tor exit node (`tor_exit_node`)	false
Unix timestamp of change (`timestamp`)	1618367701