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Politics : View from the Center and Left

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To: JohnM who wrote (220204)	3/21/2013 11:43:40 PM
From: cosmicforce	Read Replies (1) of 542197

In a perfect market, items tend toward commodity pricing (just enough profit to keep two competing suppliers from going broke). In a rigged market suppliers A and B collude to get a premium over commodity pricing. In this game buyer C always gets the short end of the stick. A and B split the profits which are higher than either would get due to simulated scarcity. Then the game is inverted when C sells a commodity. Both A and B share bids, one intentionally throwing a losing bid creating the illusion of low demand and guarantees A and B a better average purchase price when they split the purchase.

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