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Algot @Algot


A state of the market in which only a small number of buyers exists for a product.

1940s: from oligo- ‘small number’ + Greek opsōnein ‘buy provisions’, on the pattern of monopsony.


Companies like Ferrari, Bentley and Apple design products for an oligopsony, with the expectation that "everyone" will actually want one. Strangely, they have succeeded.

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