bilateral monopoly

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Bilateral Monopoly

A situation in which there is a single buyer and a single seller of a product. Each party has an incentive to extract the most benefits it can; specifically, the buyer wants to pay the lowest possible price and the seller wants to extract the highest. The result of the ensuing negotiation is somewhere in between. Bilateral monopolies are seen in labor agreements in which one company provides nearly all the jobs in a town (and wants to pay the lowest possible wage) and nearly all citizens in the town work for the company (and want the highest wage).

bilateral monopoly

a market situation comprising one seller (like MONOPOLY) and one buyer (like MONOPSONY).
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References in periodicals archive ?
Just compensation and bilateral monopolies are the keys here.
The mere threat of exit is powerful enough that it enables tenants to free ride or shirk obligation and thereby exacerbates many of the problems implicit in bilateral monopolies.
17) In the language of economists, bilateral monopolies create high transaction costs; in the language of laypeople, bilateral monopolies create frustration and inherently complex negotiations.
According to standard doctrine, bilateral monopolies are less worrisome when the parties locked into the monopoly are relatives who have arrived at joint ownership because of inheritance.
the problems of kleptocracy, captured states and bilateral monopolies in
propaganda to justify bilateral monopolies favoring foreigners with
When examining bilateral monopolies and state capture it is

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