Skip to Main content Skip to Navigation
Book sections

Monopsony Theory Revisited

Abstract : Standard monopsony theory, old and new, lacks a realistic criterion to distinguish between monopsony and competitive prices. Consequently, prominent Austrian critics have by and large dismissed it. However, the idea that human action occurs in discrete steps, and consequently that the elasticity of the supply schedules for factors of production, as well as the elasticity of the demand schedules for their products, can be altered as a result of coercion, lead to a theory of "monopoly price-gap", with monopoly and monopsony prices as two features of the same phenomenon.
Keywords : Monopsony monopoly
Document type :
Book sections
Complete list of metadata

Cited literature [19 references]  Display  Hide  Download

https://halshs.archives-ouvertes.fr/halshs-01519191
Contributor : Xavier Méra <>
Submitted on : Saturday, July 8, 2017 - 3:45:07 PM
Last modification on : Monday, July 6, 2020 - 3:39:33 PM
Long-term archiving on: : Wednesday, January 24, 2018 - 6:22:48 AM

File

Méra_Monopsony Theory Revisit...
Files produced by the author(s)

Identifiers

  • HAL Id : halshs-01519191, version 2

Collections

Citation

Xavier Méra. Monopsony Theory Revisited. Matthew McCaffrey. The Economic Theory of Costs: Foundations and New Directions, Routledge, 2017. ⟨halshs-01519191v2⟩

Share

Metrics

Record views

231

Files downloads

1403