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| Author: | Boal, W. M. Ransom, M. R. |
| Title: | Monopsony in the labor market |
| Journal: | Journal of Economic Literature
1997 : MAR, VOL. 35:1, p. 86-112 |
| Index terms: | LABOUR MARKETS SINGLE MARKET BUYING |
| Language: | eng |
| Abstract: | The term monopsony literally means a market with a single buyer. The consequences of monopsony were explored in the labor market. Monopsonistic exploitation arising from supply frictions is probably widespread but small on average. Monopsonistic exploitation arising from explicit collusion is probably rare but occasionally large. Monopsonistic exploitation arising from tacitly collusive of Cournot behavior may exist in some professions with small number of employers, but the existing evidence is inconclusive. |
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