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BP, Shell raided over alleged price fixing | Business News | Business and Finance News ... - 2 views

shared by Jin Seo on 31 May 13 - No Cached

crude oil, refined oil products and biofuels purchases and sales
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- Jin Seo on 31 May 13
  
  Oil - one of the most inelastic good
  
  <div class="cArrow"> </div><div class="cContentInner">Oil - one of the most inelastic good </div>
  
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Statoil
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...9 more annotations...
Platts
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final consumers
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colluded
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prevented others from participating in the price assessment process, with a view to distorting published prices.
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price fixing
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cartels
- Jin Seo on 31 May 13
  
  formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?
  
  <div class="cArrow"> </div><div class="cContentInner">formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers? </div>
  
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High oil prices are crushing families across Britain. Motorists are being taken for a very expensive ride.''
- Jin Seo on 31 May 13
  
  reasons why oligopolies are strictly monitored
  
  <div class="cArrow"> </div><div class="cContentInner">reasons why oligopolies are strictly monitored </div>
  
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- Jin Seo on 31 May 13
  
  and also why oligopolies want to collude to become a monopoly
  
  <div class="cArrow"> </div><div class="cContentInner">and also why oligopolies want to collude to become a monopoly </div>
  
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Libor scandal
- Jin Seo on 31 May 13
  
  largest price fixing scandal
  
  <div class="cArrow"> </div><div class="cContentInner">largest price fixing scandal</div>
  
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transparency.''
- Jin Seo on 31 May 13
  
  what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening?
  
  <div class="cArrow"> </div><div class="cContentInner">what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening? </div>
  
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Jin Seo on 31 May 13

oil price fixing in the EU

<div class="cArrow"> </div><div class="cContentInner">oil price fixing in the EU</div>

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21More

BP, Shell raided over alleged price fixing | News.com.au - 1 views

www.news.com.au/...story-fnda1bsz-1226642946822 pricefixing EU shell BP

shared by Jin Seo on 12 Jun 13 - No Cached

cartels
- Jin Seo on 12 Jun 13
  
  formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?
  
  <div class="cArrow"> </div><div class="cContentInner">formal collusion; cartels are group of competitive firms colluding together to act as a monopoly - why is a monopoly market structure attractive to producers?</div>
  
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market manipulation
- Jin Seo on 12 Jun 13
  
  The act of artificially inflating or deflating the price of a security
  
  <div class="cArrow"> </div><div class="cContentInner">The act of artificially inflating or deflating the price of a security </div>
  
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prices of crude oil, refined oil products and biofuels purchases and sales, potentially harming final consumers
- Jin Seo on 12 Jun 13
  
  oil- one of the most inelastic goods due to its high demand and usage in producing a lot of consumer goods
  
  <div class="cArrow"> </div><div class="cContentInner">oil- one of the most inelastic goods due to its high demand and usage in producing a lot of consumer goods </div>
  
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...9 more annotations...
price fixing
- Jin Seo on 12 Jun 13
  
  price fixing = market manipulation
  
  <div class="cArrow"> </div><div class="cContentInner">price fixing = market manipulation </div>
  
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BP, Shell and Norway's Statoil
- Jin Seo on 12 Jun 13
  
  what sort of market structure are they in? oligopoly and their tendency to collude = because they are profit maximizers
  
  <div class="cArrow"> </div><div class="cContentInner">what sort of market structure are they in? oligopoly and their tendency to collude = because they are profit maximizers </div>
  
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European Commission
- Jin Seo on 12 Jun 13
  
  have monitoring for these companies due to high probabilities of collusion
  
  <div class="cArrow"> </div><div class="cContentInner">have monitoring for these companies due to high probabilities of collusion </div>
  
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collude
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prevented others from participating in the price assessment process
- Jin Seo on 12 Jun 13
  
  fairly high barriers to entry - one of the characteristics of an oligopoly
  
  <div class="cArrow"> </div><div class="cContentInner">fairly high barriers to entry - one of the characteristics of an oligopoly </div>
  
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the market vulnerable to abuse
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Consumers need to know that the prices they pay for their energy or petrol are fair, transparent and not being manipulated by traders
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High oil prices are crushing families across Britain
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market transparency
- Jin Seo on 12 Jun 13
  
  EVALUATION: what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening?
  
  <div class="cArrow"> </div><div class="cContentInner">EVALUATION: what would the evaluation contain? - is it good or bad? (for consumers (benefits of colluding) and producers) - BP oil competition = shows how having contest ability may be dangerous - what can the governments do to stop collusion from happening? </div>
  
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Jin Seo on 12 Jun 13

Price fixing of oil companies in the EU

<div class="cArrow"> </div><div class="cContentInner">Price fixing of oil companies in the EU</div>

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20More

Panasonic looking to slash HQ personnel | The Japan Times Online - 2 views

www.japantimes.co.jp/...nb20120530a1.html

shared by Emily Hoshi on 01 Jun 12 - No Cached

Panasonic looking to slash HQ personnel
- Emily Hoshi on 01 Jun 12
  
  Panasonic (oligopolistic firm) is considering to cut workers due to recession, so microeconomics on oligopoly with the x-axis with quantity and y-axis with price can be made.
  
  <div class="cArrow"> </div><div class="cContentInner">Panasonic (oligopolistic firm) is considering to cut workers due to recession, so microeconomics on oligopoly with the x-axis with quantity and y-axis with price can be made.</div>
  
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- Ayaka Matsumura on 01 Jun 12
  
  In the end, is it possible to find a way to NOT cut workers?
  
  <div class="cArrow"> </div><div class="cContentInner">In the end, is it possible to find a way to NOT cut workers?</div>
  
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- Ayaka Matsumura on 01 Jun 12
  
  In your IA maybe you could add a simple note saying how long the recession has been going on.
  
  <div class="cArrow"> </div><div class="cContentInner">In your IA maybe you could add a simple note saying how long the recession has been going on.</div>
  
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reduce costs and streamline the organization
- Emily Hoshi on 01 Jun 12
  
  I assume this section is saying that they are trying to reduce costs of production and increase efficiency. However, in most cases if a firm tries to lower the price they would lose customers due to price war between other firms that produce homogenous goods so it would be risky to change prices when its oligopoly. Although, their main aim is to recover its business so they are trying to cut many workers, reduce costs and increase efficiency.
  
  <div class="cArrow"> </div><div class="cContentInner">I assume this section is saying that they are trying to reduce costs of production and increase efficiency. However, in most cases if a firm tries to lower the price they would lose customers due to price war between other firms that produce homogenous goods so it would be risky to change prices when its oligopoly. Although, their main aim is to recover its business so they are trying to cut many workers, reduce costs and increase efficiency.</div>
  
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drastic workforce downsizing at its Osaka
- Emily Hoshi on 01 Jun 12
  
  Brings marginal cost shift inwards and by that also the average cost shift inwards as well
  
  <div class="cArrow"> </div><div class="cContentInner">Brings marginal cost shift inwards and by that also the average cost shift inwards as well </div>
  
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- Emily Hoshi on 01 Jun 12
  
  Slush in labours at Panasonic Corps in Osaka
  
  <div class="cArrow"> </div><div class="cContentInner">Slush in labours at Panasonic Corps in Osaka </div>
  
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recovery of its business performance at an early date by speeding up decision-making, in addition to cost cuts after logging a massive group net loss in the business year
- Emily Hoshi on 01 Jun 12
  
  Same points made from the previous paragraph, due to recession they are aiming to increase efficiency and cut costs
  
  <div class="cArrow"> </div><div class="cContentInner">Same points made from the previous paragraph, due to recession they are aiming to increase efficiency and cut costs</div>
  
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redirecting company resources into new growth areas
- Emily Hoshi on 01 Jun 12
  
  I assume that "new growth areas" is to move the company to a more rural area because having a business at a city has a high land cost where rural areas can be much cheaper therefore, this can benefit the firm by having the cost curves to shift outward.
  
  <div class="cArrow"> </div><div class="cContentInner">I assume that "new growth areas" is to move the company to a more rural area because having a business at a city has a high land cost where rural areas can be much cheaper therefore, this can benefit the firm by having the cost curves to shift outward. </div>
  
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energy-efficient products and solar panels
- Emily Hoshi on 01 Jun 12
  
  One of the factors of production, capital by having new technology such as (mentions here) solar panels. It reduces the light energy use, etc costs in the company.
  
  <div class="cArrow"> </div><div class="cContentInner">One of the factors of production, capital by having new technology such as (mentions here) solar panels. It reduces the light energy use, etc costs in the company.</div>
  
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loss of ¥772.17 billion
- Emily Hoshi on 01 Jun 12
  
  This can be shown on demand and supply where supply shifts outward, showing the loss of 772.17 billion yen on the price axis
  
  <div class="cArrow"> </div><div class="cContentInner">This can be shown on demand and supply where supply shifts outward, showing the loss of 772.17 billion yen on the price axis </div>
  
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36,000 over the year to some 330,000
- Emily Hoshi on 01 Jun 12
  
  This can be shown on phillips curve (?) to show the increase in unemployment rate by having the aggregate demand to shift inwards.
  
  <div class="cArrow"> </div><div class="cContentInner">This can be shown on phillips curve (?) to show the increase in unemployment rate by having the aggregate demand to shift inwards. </div>
  
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Emily Hoshi on 06 Jun 12

this is my IA

<div class="cArrow"> </div><div class="cContentInner">this is my IA</div>

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Colluding Oligopoly Article - 0 views

www.bbc.co.uk/...business-19671214

shared by Derek Schwung on 24 Sep 12 - No Cached

11More

New drug price order may bring in monopoly - The New Indian Express - 2 views

newindianexpress.com/...article1602951.ece

shared by Keisuke Ozeki on 31 May 13 - No Cached

- Keisuke Ozeki on 31 May 13
  
  Positive Externality, Merit Good
  
  <div class="cArrow"> </div><div class="cContentInner">Positive Externality, Merit Good</div>
  
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the new price regime would bring in monopoly in the sector.
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- Keisuke Ozeki on 31 May 13
  
  Would it bring in a monopoly? - Evaluation
  
  <div class="cArrow"> </div><div class="cContentInner">Would it bring in a monopoly? - Evaluation</div>
  
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While the earlier drug price control order covered only 74 bulk drugs and formulations
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- Keisuke Ozeki on 31 May 13
  
  Note that maximum price level existed previously, but at a lower level.
  
  <div class="cArrow"> </div><div class="cContentInner">Note that maximum price level existed previously, but at a lower level.</div>
  
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As per the new price control order, the ceiling price of an essential drug will be the simple average of all brands with a market share of at least one per cent.
- Keisuke Ozeki on 12 Jun 13
  
  Decrease in demand temporarily as there is an expectation of decrease in price.
  
  <div class="cArrow"> </div><div class="cContentInner">Decrease in demand temporarily as there is an expectation of decrease in price.</div>
  
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But, large companies will get a monopoly in pricing as they can manipulate price structure together.
- Keisuke Ozeki on 12 Jun 13
  
  Creating cartels to increase the price together - Oligopoly, few large firms dominating the market.
  
  <div class="cArrow"> </div><div class="cContentInner">Creating cartels to increase the price together - Oligopoly, few large firms dominating the market.</div>
  
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The experts in the industry point out that the small players in the field will eventually be wiped out when the new price control regime will come into effect.
- Keisuke Ozeki on 12 Jun 13
  
  Evaluation - Assumption made that the large firms are going to form cartels. If they don't, this will not occur. For the government to prevent this, they can create anti-cartel regulations
  
  <div class="cArrow"> </div><div class="cContentInner">Evaluation - Assumption made that the large firms are going to form cartels. If they don't, this will not occur. For the government to prevent this, they can create anti-cartel regulations</div>
  
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10More

BBC News - Chocolate firms Nestle and Mars accused of price-fixing - 0 views

www.bbc.co.uk/...business-22807887

shared by grace turner on 12 Jun 13 - No Cached

price-fixing
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conspiracy
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Nestle Canada, Mars Canada, and the distributors ITWAL have been charged
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...5 more annotations...
Hershey Canada, an alleged co-conspirator, is expected to plead guilty at a hearing later this month in exchange for leniency.
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Three individuals have also been charged as part of the investigation.
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Mars, Nestle and ATWAL vowed to fight the charges
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"It is Mars Canada's policy not to comment on pending litigation and we are therefore unable to make any additional comments in relation to this matter, which is now before the court.
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- grace turner on 12 Jun 13
  
  theory of oligopoly what it means to price fix
  
  <div class="cArrow"> </div><div class="cContentInner">theory of oligopoly what it means to price fix </div>
  
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- grace turner on 12 Jun 13
  
  possibly luxury vs. necessity-elasticities that make it possible?- chocolate is somewhat addictive...
  
  <div class="cArrow"> </div><div class="cContentInner">possibly luxury vs. necessity-elasticities that make it possible?- chocolate is somewhat addictive...</div>
  
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grace turner on 12 Jun 13

mine :)

<div class="cArrow"> </div><div class="cContentInner">mine :)</div>

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8More

BBC News - Samsung and LG fined by regulator for price fixing - 2 views

www.bbc.co.uk/...business-16540678

shared by Edward Pearson on 05 Jun 12 - No Cached

secret meetings in 2008 and 2009
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The companies face a penalty of 44.6bn won ($39m; £25.2m), said the Fair Trade Commission (FTC).
- Edward Pearson on 05 Jun 12
  
  -highly illegal -inefficient, lack of competition
  
  <div class="cArrow"> </div><div class="cContentInner">-highly illegal -inefficient, lack of competition </div>
  
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"Their price rigging caused damage to many consumers by leading the prices of washing machines, flat-panel TVs and laptop computers to rise
- Edward Pearson on 05 Jun 12
  
  effectively monopoly - easier to controll prices -non-kinked demand curve
  
  <div class="cArrow"> </div><div class="cContentInner">effectively monopoly - easier to controll prices -non-kinked demand curve</div>
  
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...1 more annotation...
South Korea's antitrust regulator has fined Samsung Electronics and LG Electronics for conspiring to fix the prices of some appliances.
- Edward Pearson on 05 Jun 12
  
  explicit collusion - effectively becomes a monopoly
  
  <div class="cArrow"> </div><div class="cContentInner">explicit collusion - effectively becomes a monopoly</div>
  
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Edward Pearson on 06 Jun 12

This could be my IA article - colluding oligopoly and monopoly

<div class="cArrow"> </div><div class="cContentInner">This could be my IA article - colluding oligopoly and monopoly</div>

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