noun (plural monopsonies)Economics
A market situation in which there is only one buyer.
- Using modern terms, in labor markets oligopsony or monopsony emerges, and market imperfections and a zero reservation price for labor exist.
- One way of attending to this need for prudent regulation would be to establish a monopsony, a situation where only one buyer exists for the products of several sellers.
- Now, whatever their other inefficiencies might or might not be, law reviews are not monopsonies, since they allow multiple submissions.
For editors and proofreaders
Line breaks: mon|op¦sony
Definition of monopsony in:
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.