oligopsonistic
- adjective
- /ˌɑːlɪɡəpˈsɒnɪstɪk/
- Specialized
- The local farmers struggled to negotiate fair prices since the grocery chains operated in an oligopsonistic manner.
Examples
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As a result, the processing of the scallop is oligopsonistic in nature, with the 5 firms owning and operating some vessels but also sometimes contracting with private vessels.
Academic text (1993) -
The impetus behind the movement toward the scallop cooperative was the increase in stocks and technological changes discussed earlier, especially those that led to an oligopsonistic structure in scallop processing, and hence to relatively much lower costs of enforcing cooperative behavior.
Academic text (1993) -
And not collectively in an oligopsonistic way, You know it's what happens in equilibrium is said by that.
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In an oligopsonistic market, a few large buyers determine the prices paid to suppliers.
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An oligopsonistic environment can lead to reduced competition, harming the interests of individual sellers.
Synonyms
1
9.9
A market where one buyer buys goods from many sellers
Antonyms
How Concentrated
Surface Forms
Morphology
oligopsonistic = oligopsony (semi-transparent) = oligo + opsony + istic
The adjective is formed by the regular addition of '-istic' to the technical noun 'oligopsony'.
Etymology
Oligopsonistic comes from Greek parts oligo- meaning 'few' and -opsony meaning 'buying'. Think of oligarchy 'rule by a few' and monopsony 'one buyer', so oligopsonistic describes a market where just a few buyers control the buying.