conscious parallelism
- A situation when competitors adjust prices or business practices in response to a similar change made by another company, without having any formal agreement
- When one gas station raised its prices, instances of conscious parallelism occurred as surrounding stations also hiked their prices.
- Conscious parallelism was observed when several grocery stores simultaneously stopped providing plastic bags after the market leader started the trend.
- After the lead tech company removed headphone jacks from their phones, conscious parallelism was seen as several other manufacturers swiftly did the same.
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