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Oligopsony
  CATEGORIES ABOUT OLIGOPSONY
   
market structure and pricing
   
imperfect competition
   
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The terms monopoly (one seller), monopsony (one buyer), and bilateral monopoly have a similar relationship.

An example of an oligopsony in our economy might be fast food chains, of which there are a relatively small number. They buy food from a large number of small farms.


REFERENCES

  • Bhaskar, V., A. Manning and T. To (2002) 'Oligopsony and Monopsonistic Competition in Labor Markets,' ''Journal of Economic Perspectives,'' 16, 155–174.

  • Bhaskar, V. and T. To (2003) 'Oligopsony and the Distribution of Wages,' ''European Economic Review,'' 47, 371-399.



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