oligopoly

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oligopoly:

see monopolymonopoly
, market condition in which there is only one seller of a certain commodity; by virtue of the long-run control over supply, such a seller is able to exert nearly total control over prices.
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oligopoly

See MONOPOLY.
Collins Dictionary of Sociology, 3rd ed. © HarperCollins Publishers 2000
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Oligopoly

 

a term used in bourgeois economics to designate a form of market structure in developed capitalist countries. Under oligopolistic conditions several large firms monopolize the bulk of production and marketing and conduct nonprice competition among themselves. The term “oligopoly” was introduced by the English writer T. More, the founder of Utopian socialism, in his Utopia (1516). A mixture of monopoly and competition, oligopoly is characteristic of almost all branches of present-day capitalist mass production.

The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.

oligopoly

Economics a market situation in which control over the supply of a commodity is held by a small number of producers each of whom is able to influence prices and thus directly affect the position of competitors
Collins Discovery Encyclopedia, 1st edition © HarperCollins Publishers 2005
References in periodicals archive ?
(14) It depicts also the price results of the COLUMBUS simulation, differentiated for the NWE and the SEE market as well as for an oligopolistic and a competitive upstream behavior for each respective year.
In contrast to equilibria associated with perfect competition, monopoly, or monopolistic competition, firms operating in an oligopolistic market may choose to follow different strategies leading to different expected results.
to distinguish the category of conduct I call "oligopolistic" (conduct that is initiated by an actor's making a move it would not have perceived to be profitable ex ante but for the actor's belief that its rivals' responses would be or might be affected by their perception that it could react to their responses) from other categories of interdependent decision-making, (73)
Under oligopolistic competition, entry is below (above) optimum if the substitution elasticity between goods is low (high).
Therefore, in this paper, according to the actual situation of China's electricity market, the best-response dynamic model of oligopolistic power producer's bidding is constructed based on the assumption that all producers have bounded rationality, and then the relationships between the evolutionarily stable strategy (ESS) of power producer's bidding and the market demand and ceiling and floor price as well as biding frequency are discussed.
There are a handful of companies dominating the market in an oligopolistic play.
The Libor scandal demonstrated that the London-based market is not a real market but an oligopolistic structure.
Uvalic ed., Franco Angeli, Milano, 2012), demand elasticity estimation has been pursued using supply data in order to construct a residual demand curve for oligopolistic suppliers and measure unilateral market power through the Lemer index.
He also said that some rating agencies and accounting firms enjoyed oligopolistic power over the markets.
Though the companies might sugar- coat their policy through terms like " dynamic pricing business model", the moot issue remains that they are cashing in on their oligopolistic advantage.
"This will end monopolistic, oligopolistic and abusive practices.
Instead, Canada developed a national oligopolistic banking system with limited entry protected by the national government.