Competition among hiring firms had given way to what would today be called oligopsony or monopsony.
There may have been instances of monopsony or oligopsony in the 19th century, but they were short-lived.
The present investigation is significant for three reasons: landfill crisis, limited effectiveness of government policies in the presence of market power, and theoretical and empirical contributions to the theory of oligopsony .
With Equation, regional oligopsony / oligopoly indices are constructed.
Economists refer to this as an oligopsony : a market with few buyers.
The objectives of this study were to investigate the possible existence of oligopsony elements in the ONP input market among recycled newsprint producers in the United States.
They concluded that increased beef packer margins in the last few years had stemmed from oligopsony power among packers.
This paper identifies oligopsony characteristics associated with the old newspaper (ONP) input market for recycled-content newsprint manufacture and then examines the impacts of market performances on ONP input prices.
Using modern terms, in labor markets oligopsony or monopsony emerges, and market imperfections and a zero reservation price for labor exist.
This study postulates that oligopsony power will have a negative effect on ONP input prices in the absence of other powerful buyers or rivals, and the intensity of the negative effect is reduced with the presence of other powerful rivals.