Economic Definition of overt collusion. Defined.
Offline Version: PDF
Term overt collusion Definition: A formal, usually secret, collusion agreement among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the market price, and otherwise act like a monopoly. Also termed explicit collusion, the distinguishing feature of overt collusion is a formal agreement. This should be contrasted with implicit or tacit collusion that does not involve a formal, explicit agreement.
« overemployment | owner occupied »
Permalink: https://glossary.econguru.com/economic-term/overt+collusion