THE IMPACT OF ANTI-COMPETITIVE CARTEL AGREEMENTS ON CONSUMERS AND THE ECONOMY IN GENERAL

Abstract

Cartels, the most harmful type of anticompetitive behavior, lead to high prices, lower quantities, and lower variety and innovation with a clear welfare loss. Moreover, they do not offer any economic or social benefit to justify the losses they generate, through their actions they can limit or eliminate part of the competition either on a global, European or national level, for this reason being condemned in all legislation of competition.