oligopsony
1
9.9
- noun
- /ˌɑːlɪˈɡɒpsəni/
- Specialized
- The local dairy farmers struggle to negotiate fair prices due to the oligopsony controlled by a few large processors.
Examples
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Consider by contrast oligopoly or oligopsony—what I call subsystem-dominant systems—in which the individual buyers and sellers perceive their decisions to have a direct effect upon price.
Academic text (1990) -
A recent analysis confirms that while agricultural growth reduces rural poverty, a measure of oligopsony exacerbates poverty.
Academic text (1998) -
One of the big charges by left-libs is that of an oligopsony that exists between employer and employee.
Blog text (9) -
In many rural areas, an oligopsony can limit the income potential of smallholder farmers by reducing their bargaining power.
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The oligopsony in the tech industry allows a few companies to dictate the prices and terms for workers across many sectors.
Synonyms
1
9.9
A market where only one buyer buys from many sellers
Antonyms
How Concentrated
- Specialized
1
9.9
- Specialized
1
9.9
Surface Forms
Morphology
oligopsony = oligo + psony
Although built from the combining form 'oligo-' (few) + the root 'psony' (buying), the root is not a standalone English word and the construction is a technical economic term, so most learners cannot reliably derive the meaning from its parts.
Etymology
The word oligopsony comes from Greek parts: oligo- meaning 'few', as in oligarchy, and -psony meaning 'buy' or 'purchase', as seen in monopsony where mono- is 'one'. So, an oligopsony is a market where a few buyers control most of the buying.