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Monopsony in the Labour Markets

In: Labour Economics and Public Policy Managing the Labour Markets for Competitiveness

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  • Soon Beng Chew

Abstract

In Chapter 6, we examine government actions in situations where there are many buyers and sellers of labour services in the labour markets. In this chapter, we discuss how market forces work when there is only one buyer of labour services (monopsony) in the labour market. We examine two cases, one when the monopsonist has discriminating power and another case without discriminating power. In order to appreciate the economics of monopsony, we will first examine the notion of consumer surplus.

Suggested Citation

  • Soon Beng Chew, 2017. "Monopsony in the Labour Markets," World Scientific Book Chapters, in: Labour Economics and Public Policy Managing the Labour Markets for Competitiveness, chapter 7, pages 97-104, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813202238_0007
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    More about this item

    Keywords

    Labour Market Competitiveness; Labour Unions; Macro-Focused Union; Union Social Responsibility; Union as a Public Good;
    All these keywords.

    JEL classification:

    • J08 - Labor and Demographic Economics - - General - - - Labor Economics Policies

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