ARCHER DANIELS MIDLAND: PRICE-FIXER TO THE WORLD
John Connor ()
No 28664, Staff Papers from Purdue University, Department of Agricultural Economics
Both market structure and corporate practices of Archer Daniels Midland fostered the implementation of the largest price-fixing conspiracies seen in modern times. The overcharges imposed on U.S. buyers of lysine and citric acid during 1994-1995 by ADM and its co-conspirators amounted to at least $250 million, and the total amount of public penalties, private damages, and legal costs exceeds $666 million. Perpetrators of price-fixing now face monetary exposures that are five times the amount of the harm caused to buyers. These events have spurred renewed attention by U.S. antitrust authorities in prosecuting international cartels.
Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13) Track citations by RSS feed
Downloads: (external link)
Working Paper: ARCHER DANIELS MIDLAND:PRICE FIXER TO THE WORLD (2000)
Working Paper: ARCHER DANIELS MIDLAND: PRICE FIXER TO THE WORLD (1997)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ags:puaesp:28664
Access Statistics for this paper
More papers in Staff Papers from Purdue University, Department of Agricultural Economics Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().