Also known as "price fixing" or "collusion".
For example, let's assume that the local gas stations agree to artificially inflate the price of gasoline by setting it several cents above where the price would be found under normal competition. This would be deemed price rigging, which is unlawful and can lead to severe criminal charges.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
rigging — rig‧ging [ˈrɪgɪŋ] noun [uncountable] COMMERCE LAW when companies, groups of investors work together illegally or unfairly to influence prices, conditions etc to their advantage ˈmarket ˌrigging COMMERCE LAW when some of the compan … Financial and business terms
Price fixing cases — USAir TravelOn 1 August 2007 it was reported that British Airways has been fined £121.5 million [ cite news | title = BA gets £121.5m price fixing fine| publisher = BBC News | date = 8 January 2007 | url =… … Wikipedia
Price fixing — is an agreement between business competitors to sell the same product or service at the same price.In general, it is an agreement intended to ultimately push the price of a product as high as possible, leading to profits for all the sellers.… … Wikipedia
rigging a market — An attempt to make a profit on a market, usually a security or commodity market, by overriding the normal market forces. This often involves taking a long position or a short position in the market that is sufficiently substantial to influence… … Big dictionary of business and management
rigging the market — A term of the stock exchange, denoting the practice of inflating the price of given stocks, or enhancing their quoted value, by a system of pretended purchases, designed to give the air of an unusual demand for such stocks … Black's law dictionary
bid-rigging — This is when companies agree the outcome of a tender process amongst themselves either by deciding in advance which company will bid, who will bid the best price or what the tender price should be. Bid rigging is strictly prohibited under… … Law dictionary
bid rigging — This is when companies agree the outcome of a tender process amongst themselves either by deciding in advance which company will bid, who will bid the best price or what the tender price should be. Bid rigging is strictly prohibited under… … Law dictionary
Bid Rigging — A scheme in which businesses collude so that a competing business can secure a contract for goods or services at a pre determined price. Bid rigging stifles free market competition, as the rigged price will be unfairly high. The Sherman Act of… … Investment dictionary
Bid rigging — is an illegal agreement between two or more competitors. It is a form of collusion, which is illegal in most countries. It is a form of price fixing and market allocation, and it involves an agreement in which one party of a group of bidders will … Wikipedia
market rigging — ➔ rigging * * * market rigging UK US noun [U] LAW, COMMERCE, FINANCE ► the practice of unfairly or illegally controlling the sale or the price of products, shares, etc.: »Charges on the arrest warrants included criminal association, extortion and … Financial and business terms