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Economics: Oligopolies and Oligopsonies
Oligopolies and Oligopsonies
This article is about the trend of oligopolies and how that creates oligopsonies. We already defined in oligopoly in class as an industry where there are few producers. An oligopsony is the term used when there are only a few buyers for that oligopoly. One example is "... the limited number of national book chains." Since there are three major book chains, namely Barnes and Noble, Borders, and Amazon; it seems that if a book does not do well in one of those store then it is not considered a successful book. I cannot help but think of bookstore like Walden…
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