Definition of Monopsony. Meaning of Monopsony. Synonyms of Monopsony

- In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services...
- industry (or market). A monopoly may also have monopsony control of a sector of a market. A monopsony is a market situation in which there is only one...
- Similar to a monopsony, an oligopsony is a group of few powerful buyers that demand the majority of goods and services purchased. Monopsonies and oligopsonies...
- Competition, Robinson coined the term "monopsony", which is used to describe the buyer converse of a seller monopoly. Monopsony is commonly applied to buyers of...
- however, minimum wages can increase the efficiency of the labor market in monopsony scenarios, where individual employers have a degree of wage-setting power...
- market structure consisting of both a monopoly (a single seller) and a monopsony (a single buyer). Bilateral monopoly is a market structure that involves...
- Labour economics s****s to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers,...
- firms. Game theory can elucidate behavior in duopolies and oligopolies. A monopsony is a market where there is only one buyer and many sellers. A bilateral...
- Monopsony, when there is only a single buyer in a market. Discussion of monopsony power in the labor literature largely focused on the pure monopsony...
- Economists have subsequently characterized the NCAA as a cartel and collusive monopsony. Pro-rating payouts to Division I basketball players in proportion to...