Definition of oligopsony in English:

oligopsony

noun

  • A state of the market in which only a small number of buyers exists for a product.

    • ‘Competition among hiring firms had given way to what would today be called oligopsony or monopsony.’
    • ‘The objectives of this study were to investigate the possible existence of oligopsony elements in the ONP input market among recycled newsprint producers in the United States.’
    • ‘With Equation, regional oligopsony / oligopoly indices are constructed.’
    • ‘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.’
    • ‘Economists refer to this as an oligopsony: a market with few buyers.’
    • ‘This paper identifies oligopsony characteristics associated with the old newspaper (ONP) input market for recycled-content newsprint manufacture and then examines the impacts of market performances on ONP input prices.’
    • ‘The present investigation is significant for three reasons: landfill crisis, limited effectiveness of government policies in the presence of market power, and theoretical and empirical contributions to the theory of oligopsony.’
    • ‘They concluded that increased beef packer margins in the last few years had stemmed from oligopsony power among packers.’
    • ‘There may have been instances of monopsony or oligopsony in the 19th century, but they were short-lived.’
    • ‘This study postulates that oligopsony power will have a negative effect on ONP input prices in the absence of other powerful buyers or rivals, and the intensity of the negative effect is reduced with the presence of other powerful rivals.’
    • ‘The regional firm-level indices are derived for oligopsony / oligopoly in recycled newsprint mills for the years 1972-1995.’

Origin

1940s: from oligo- small number + Greek opsōnein buy provisions on the pattern of monopsony.

Pronunciation:

oligopsony

/ˌäləˈɡäpsənē/