bilateral monopoly

bilateral monopoly
A situation in which a monopoly seller bargains with a monopoly buyer (see monopsony). The classic application of bilateral monopoly is to the negotiation of wages between a union and a firm. The most famous solution (1950) is that stated by John Nash, which suggests that both sides will settle for the wage that maximizes the benefits from cooperation.

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  • bilateral monopoly — noun [C] (plural bilateral monopolies) ECONOMICS ► a situation in which there is only one buyer and only one seller in a market: »In a bilateral monopoly, the one supplier will look to charge a high price, and the lone buyer will want to pay the… …   Financial and business terms

  • Bilateral monopoly — In a bilateral monopoly there is both a monopoly (a single seller) and monopsony (a single buyer) in the same market. A bilateral monopoly model is often used in situations where the switching costs of both sides are prohibitively high. Bilateral …   Wikipedia

  • Bilateral Monopoly — A market that has only one supplier and one buyer. The one supplier will tend to act as a monopoly power, and look to charge high prices to the one buyer. The lone buyer will look towards paying a price that is as low as possible. Since both… …   Investment dictionary

  • bilateral monopoly — noun : a market condition in which only one buyer or one group of associated buyers confronts only one seller or one group of associated sellers …   Useful english dictionary

  • monopoly — Absolute control of all sales and distribution in a market by one firm, due to some barrier to entry of other firms, allowing the firm to sell at a higher price than the socially optimal price. Bloomberg Financial Dictionary * * * monopoly… …   Financial and business terms

  • Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts …   Wikipedia

  • Двусторонняя монополия — BILATERAL MONOPOLY Рынок, состоящий из одного продавца и одного покупателя. См. Monopoly, Monopsony …   Словарь-справочник по экономике

  • Monopsony — In economics, a monopsony (from Ancient Greek μόνος (monos) single + ὀψωνία (opsōnia) purchase ) is a market form in which only one buyer faces many sellers. It is an example of imperfect competition, similar to a monopoly, in which only one… …   Wikipedia

  • Монополия — (monopoly) Рынок, на котором действует единственный продавец (производитель). В том случае, когда имеется единственный продавец и единственный покупатель, ситуация называется двусторонняя монополия (bilateral monopoly) (cм. также:… …   Словарь бизнес-терминов

  • Oligopsony — An oligopsony (from Ancient Greek ὀλίγοι (oligoi) few + ὀψωνία (opsōnia) purchase ) is a market form in which the number of buyers is small while the number of sellers in theory could be large. This typically happens in a market for inputs where… …   Wikipedia

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