Difference between revisions of "Oligopsony"
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The supply-side equivalent of oligopsony is [[oligopoly]], in which a market is dominated by a small number of sellers. | The supply-side equivalent of oligopsony is [[oligopoly]], in which a market is dominated by a small number of sellers. | ||
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Latest revision as of 03:54, May 24, 2009
In economics, an oligopsony is a demand-side market structure characterized by a small number of buyers. It is most commonly seen in factor markets wherein a few firms compete for factors of production. In such a situation, the oligopsonists retain a significant amount of market power, as they can drive prices down by spurring competition between sellers.
The supply-side equivalent of oligopsony is oligopoly, in which a market is dominated by a small number of sellers.