Quote:
Originally Posted by DuckieTigger
Yes, agency pricing is what was illegal about the collusion.
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No, that is incorrect. The agency pricing was never illegal. Only the collusion to bring it about industrywide and simultaneously. Remember that Random House was not a party to the lawsuit and was free at any time to institute agency pricing because it did not discuss doing so with any other publisher. It chose not to once the lawsuit was settled because it would then have been at a competitive disadvantage (although the disadvantage was one of public relations, not of economics unless you think books are commodities).