Oligopoly - How It Works and Why It Works

7 Pages Posted: 12 Oct 2014 Last revised: 20 Jun 2019

See all articles by Magdalena Laskowska

Magdalena Laskowska

Université Paris II - Panthéon-Assas

Date Written: 2014

Abstract

An oligopoly is a type of a market structure in which there are only a few producers. Oligopolies are prevalent in today’s reality. They are competitive: oligopolists compete with each other for sales, yet they are imperfectly competitive. They do compete for sales, but also possess some market power: the ability to raise market prices. Each oligopolist is not a monopolist, yet it can affect market prices; its decisions about how much to produce affect market prices. Product differentiation is also of utmost importance in oligopolies. In my paper I present the basic analysis of oligopolies.

Keywords: oligopoly, market power

Suggested Citation

Laskowska, Magdalena, Oligopoly - How It Works and Why It Works (2014). Available at SSRN: https://ssrn.com/abstract=2507275 or http://dx.doi.org/10.2139/ssrn.2507275

Magdalena Laskowska (Contact Author)

Université Paris II - Panthéon-Assas ( email )

12 place du Pantheon
Paris cedex 06, 75231
France

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