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Alphascript Publishing Monopsony
Alphascript Publishing - Monopsony

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In economics, a monopsony (from Ancient Greek (monos) "single" + (ops nia) "purchase") is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one seller faces many buyers. As the only purchaser of a good or service, the "monopsonist" may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.The term was first introduced by Joan Robinson in her influential book, The Economics of Imperfect Competition. Robinson credits classics scholar Bertrand Hallward of Peterhouse College, Cambridge with coining the term.A single-payer health care system, in which the government is the only "buyer" of health care services, is an example of a monopsony. It has also been argued that Wal- Mart, in the United States, functions as a monopsony in certain market segments, as its buying power for a given item may dwarf the remaining market.

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Alphascript Publishing

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Product Type:
Paperback book
Package Dimensions:
0.22 x 0.15 x 0.01 m; 0.191 kg
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