oligopsony
/ɒlɪˈɡɒps(ə)ni
/noun (plural oligopsonies)
A state of the market in which only a small number of buyers exists for a product.Economists refer to this as an oligopsony: a market with few buyers....
- An oligopsony is a market in which there are many sellers, but few buyers.
- Using modern terms, in labor markets oligopsony or monopsony emerges, and market imperfections and a zero reservation price for labor exist.
Derivatives
oligopsonistic
- Three market observations indicate the possible existence of oligopsonistic elements in the ONP market: the existence of barriers to entry; relatively few buyers and many sellers; and historically large price variations.
- The farm sector is not receiving that money because of the oligopsonistic [buyer shared monopoly] meat packers, and the oligopsonistic retailers have positioned themselves to capture the bulk of that profit.
- The oligopsonistic behavior of ONP buyers led to greater price distortions in all four regions.
Origin
1940s: from oligo- 'small number' + Greek opsōnein 'buy provisions', on the pattern of monopsony.
- quasifission
- quasi-implication
- quasi in rem
- quasilinear
- quasi-modal
- Quasimodo
- Quasimodo, Salvatore
- quasimolecular
- quasi-nuptial
- quasi-optical
- quasi parlando
- quasi parlato
- quasiparticle
- quasiperiodic
- quasiperiodicity
- quasi-quote
- quasi-science
- quasi-scientific
- quasi-semi
- quasi-social
- quasispecies
- quasi-stellar
- quasi-universal
- quasquicentennial
- quassi