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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Standard doctrine relies on familial bonds and the unilateral right of partition to mitigate the problem of bilateral monopoly and to foster cooperation in the management of the tenants' common resource.
have a bargaining situation similar to a bilateral monopoly [crony
He then examines the elements necessary for any assemblage conclusion of highest and best use, including market value, bilateral monopoly, and the reasonably probable aspect of highest and best use.
For those farmers who had contentious negotiations with the Board, disputes centered on three issues: valuation of property, bilateral monopoly, and third-party effects.
That suggests a move to a bilateral monopoly, and economists will tell you that a bilateral monopoly is not necessarily more efficient than a monopsony.
And as is well known, the outcome of bargaining in a bilateral monopoly differs from that when the two sides have competitors to whom a disappointed party could switch.
I still remember a wonderful lecture on bilateral monopoly that Paul gave in 1958 during my second semester at MIT.
BKR focus primarily on a bilateral monopoly solution concept, which we do not consider: joint profit maximization with the intermediate good price determined through profit share bargaining.
Epstein distinguishes this situation--a bilateral monopoly where nobody but me is dying of thirst and I can get water nowhere else--from other cases of necessity like natural disasters where some merchants take advantage of shortages to gouge victims.
Discussed in this article are the elements necessary for an assemblage conclusion of highest and best use, including market value, bilateral monopoly, and the reasonably probable aspect of highest and best use.
Even in markets in which a health plan is dominant, the Campbell bill merely introduces a bilateral monopoly.
In classic economic theory when two monopolies, or monopsonies, [14] contest the price of an asset or product the result is called bilateral monopoly.

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