Oligopoly
From Simple English Wikipedia, the free encyclopedia
In economics, an oligopoly is when a market is controlled by a small number of sellers. Very often, there are only 3 or 4 of them. Oligopolies are very common. The main feature of the oligopoly is that a decision made by one market player influences the whole market.
[edit] Examples
In many countries, some country-held companies were privatised. Very often, this privatisation lead to oligopolies. In many countries, there are only a handful of companies providing networks for mobile phones. They control the prices for accessing the network. That is why using a mobile phone is often much more expensive than using a land line one.
[edit] External links
- Microeconomics by Elmer G. Wiens: Online Interactive Models of Oligopoly, Differentiated Oligopoly, and Monopolistic Competition
- Vives, X. (1999). Oligopoly pricing, MIT Press, Cambridge MA. (A comprehensive work on oligopoly theory)
- Oligopoly Watch A blog on current oligopoly issues from a business and social perspective
Different Market forms |
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Perfect competition • Monopolistic competition • Oligopoly • Oligopsony • Monopoly • Natural monopoly • Monopsony |