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What Can We Learn From The Adm Global Price Conspiracies?

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Author Info

  • John M. Connor

    ()
    (Department of Agricultural Economics, College of Agriculture, Purdue University)

Abstract

ADM was at the center of two large global price-fixig conspiracies. Buyers were overcharged $116 to $378 million in the United States. Market structure and corporate management style facilitated these cartels. The criminal prosecutions and defendants' legal strategies were both laudatory, but civil plaintiffs were short-changed. ADM has undergone severe management restructuring, but the effectiveness of apprehending global cartels with national legal enforcement is questionable.

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File URL: http://ageconsearch.umn.edu/bitstream/28621/1/sp98-14.pdf
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Bibliographic Info

Paper provided by Purdue University, College of Agriculture, Department of Agricultural Economics in its series Working Papers with number 98-14.

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Length: 49 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:pae:wpaper:98-14

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Related research

Keywords: Price fixing; global cartel; antitrust; citric acid; market structure; structural change; lysine; international trade; Archer Daniels Midland Co.; welfare analysis;

References

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  1. John M. Connor, 1998. "ARCHER DANIELS MIDLAND:PRICE FIXER TO THE WORLD (Third Edition)," Working Papers 98-10, Purdue University, College of Agriculture, Department of Agricultural Economics.
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Cited by:
  1. Joseph E Harrington Jr, 2002. "Post-Cartel Pricing during Litigation," Economics Working Paper Archive 488, The Johns Hopkins University,Department of Economics, revised Jun 2003.
  2. John M. Connor, 1998. "The global citric acid conspiracy: Legal-economic lessons," Agribusiness, John Wiley & Sons, Ltd., vol. 14(6), pages 435-452.
  3. Joseph E Harrington, 2001. "Optimal Cartel Pricing in the Presence of an Antitrust Authority," Economics Working Paper Archive 460, The Johns Hopkins University,Department of Economics, revised Jul 2002.
  4. John Connor, 2001. "“Our Customers Are Our Enemies”: The Lysine Cartel of 1992–1995," Review of Industrial Organization, Springer, vol. 18(1), pages 5-21, February.
  5. Digal, Larry N. & Ahmadi-Esfahani, Fredoun Z., 2002. "Market power analysis in the retail food industry: a survey of methods," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(4), December.
  6. Bolotova, Yuliya & Connor, John M. & Miller, Douglas J., 2005. "The Impact of Collusion on Price Behavior: Empirical Results from Two Recent Cases," 2005 Annual meeting, July 24-27, Providence, RI 19164, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  7. Manganelli, Anton-Giulio, 2012. "Cartel Pricing Dynamics, Price Wars and Cartel Breakdown," TSE Working Papers 12-309, Toulouse School of Economics (TSE).

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