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What Can We Learn From The Adm Global Price Conspiracies?

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  • Connor, John M.

Abstract

ADM was at the center of two large global price-fixing 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 shortchanged. ADM has undergone severe management restructuring, but the effectiveness of apprehending global cartels with national legal enforcement is questionable.

Suggested Citation

  • Connor, John M., 1998. "What Can We Learn From The Adm Global Price Conspiracies?," Economic and Policy Implications of Structural Realignments in Food and Ag Markets: A Case Study Approach - FAMC 1998 Conference 260226, Food and Agricultural Marketing Consortium (FAMC).
    • Handle: RePEc:ags:famc98:260226
    DOI: 10.22004/ag.econ.260226
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    File URL: https://ageconsearch.umn.edu/record/260226/files/06-Connor.pdf
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    References listed on IDEAS

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    1. Connor, John M., 1998. "ARCHER DANIELS MIDLAND: PRICE FIXER TO THE WORLD (Third Edition)," Staff Papers 28680, Purdue University, Department of Agricultural Economics.
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    Cited by:

    1. Manganelli, Anton-Giulio, 2012. "Cartel Pricing Dynamics, Price Wars and Cartel Breakdown," TSE Working Papers 12-309, Toulouse School of Economics (TSE).
    2. Bolotova, Yuliya & Connor, John M. & Miller, Douglas J., 2008. "The impact of collusion on price behavior: Empirical results from two recent cases," International Journal of Industrial Organization, Elsevier, vol. 26(6), pages 1290-1307, November.
    3. John M. Connor, 1998. "The global citric acid conspiracy: Legal-economic lessons," Agribusiness, John Wiley & Sons, Ltd., vol. 14(6), pages 435-452.
    4. Joseph E. Harrington, 2004. "Post‐Cartel Pricing During Litigation," Journal of Industrial Economics, Wiley Blackwell, vol. 52(4), pages 517-533, December.
    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), pages 1-26.
    6. Joseph E. Harrington, 2005. "Optimal Cartel Pricing In The Presence Of An Antitrust Authority," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(1), pages 145-169, February.
    7. John Connor, 2001. "“Our Customers Are Our Enemies”: The Lysine Cartel of 1992–1995," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 18(1), pages 5-21, February.

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