American Heritage® Dictionary of the English Language, Fourth Edition
- n. A market situation in which the product or service of several sellers is sought by only one buyer.
- n. (economics) a market in which goods or services are offered by several sellers but there is only one buyer
- From mon- + Ancient Greek ὀψωνέω (opsōneō, "buy products") + -y. (Wiktionary)
- mon(o)- + Greek opsōniā, purchase of food; see duopsony. (American Heritage® Dictionary of the English Language, Fourth Edition)
“And armor plate is -- is very tricky stuff to manufacture, and steel companies never liked manufacturing it much to begin with because, by its nature, it is what we called a monopsony; there's only one buyer in the market, and that's the United States Navy.”
“There is power of pooling research ability, and even in monopsony: the power of consumers to say that they are organizing and have agreed not to buy products with too much price discrimination or too many limits on what patrons can do.”
“By National PostAugust 14, 2009 2: 04 AM What the Canadian Wheat Board calls "single-desk marketing" is, technically, a "monopsony" -- many sellers, but only one buyer; in this case the federal government.”
“And since no market exists in monopsony, the contrary principle doesn’t apply either.”
“This might be called a monopsony in the labor market.”
“The supermarkets enjoy what economists call a monopsony: excessive buying”
“The minimum-wage advocates who have thought much about it (of course, many haven't) usually have in mind some kind of monopsony model”
“The minimum-wage advocates who have thought much about it (of course, many haven't) usually have in mind some kind of monopsony model - that is, they assume a market in which employers have some degree of monopoly buying power.”
“I doubt if most advocates of a higher minimum wage could even pronounce "monopsony", much less have a monopsony model in mind.”
“Glen Whitman writes, The minimum-wage advocates who have thought much about it of course, many haven't usually have in mind some kind of monopsony model - that is, they assume a market in which employers have some degree of monopoly...”
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