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monopsony
(redirected from Monopsony power)

    Also found in: Financial, Wikipedia 0.04 sec.

monopsony

In economic theory, market situation in which there is only one buyer. An example of pure monopsony is a firm that is the only buyer of labour in an isolated town; such a firm would be able to pay lower wages to its employees than it would if other firms were present. Though cases of pure monopsony are rare, monopsonistic elements are found wherever there are many sellers and few purchasers.
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The emphasis on joint programs has also increased the monopsony power of the government as procurement is further centralized from the different armed services.
An initial look at technology and institutions on defense industry ... by King, David R. / Defense A R Journal
The alternative to the conventional competitive model mentioned by CK is a blend of perfect competition in the market for output and monopsony power in the market for labor.
Minimum Wages and the Card--Krueger Paradox by Shepherd, A. Ross / Southern Economic Journal
Either the cross-border trade must be banned or federal price regulations and provincial monopsony power must be replaced with normal market pricing in Canada.
The Fraser Institute-Media Release; Internet Pharmacies Jeopardizing ... by Business Wire
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