Date: 2009-04-18 07:01 pm (UTC)
It's the term of art in political economy when only a few sellers exist in a market. The converse terms are, by the way monopsony (when there's only one buyer in the market) and oligopsony, when there are only a few buyers in the market. Amazon's the dominant player in an oligopolistic marketplace, since there aren't many online booksellers in a position to compete with it. On the other hand, the market for thermonuclear weapons is oligopsonistic, since there are remarkably few buyers.
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