Examlex
An application of behavioral economics is:
Market Competition
The rivalry among companies to attract customers and gain market share by offering better products, services, and terms.
Bid Rigging
An agreement among firms to not bid against one another or to submit a certain level of bid.
Price Fixing
A restraint of trade in which two or more competitors agree to set prices for a product or service.
Category
A class or division of items or people with shared characteristics, used for purposes of organization, analysis, or classification.
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