Book Details
Format
Paperback / Softback
ISBN-10
0521746086
ISBN-13
9780521746083
Edition
Revised
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
US
Country of Publication
GB
Publication Date
Sep 6th, 2010
Print length
262 Pages
Weight
358 grams
Dimensions
22.60 x 15.30 x 1.50 cms
Product Classification:
MicroeconomicsCompetition law / Antitrust law
Ksh 5,200.00
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Monopsony in Law and Economics provides a comprehensive examination of the economic analysis of monopsony, the economic condition in which there is a single buyer of a good or service. It also examines the substantive and procedural aspects of antitrust law as they apply to monopsony.
Most readers are familiar with the concept of a monopoly. A monopolist is the only seller of a good or service for which there are not good substitutes. Economists and policy makers are concerned about monopolies because they lead to higher prices and lower output. The topic of this book is monopsony, the economic condition in which there is one buyer of a good or service. It is a common misunderstanding that if monopolists raise prices, then monopsonists must lower them. It is true that a monopsonist may force sellers to sell to them at lower prices, but this does not mean consumers are better off as a result. This book explains why monopsonists can be harmful and the way law has developed to respond to these harms.
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