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Oligopsony and Minimum Wages

Author

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  • Hernán Vallejo

    (Universidad de los Andes)

Abstract

This article presents a model of oligopsony. It considers different conjectural variations that cover the whole range between the extreme cases of monopsony and perfect competition, such as Collusion, Threat, Cournot, Stackelberg, and Bertrand, and compares them in terms of prices, quantities, profits, markdown, price elasticity of supply and welfare. It also considers the impact of minimum wages, under the different conjectures analyzed.

Suggested Citation

  • Hernán Vallejo, 2024. "Oligopsony and Minimum Wages," Ensayos de Economía 022885, Universidad Nacional de Colombia Sede Medellín.
    • Handle: RePEc:col:000418:022885
    DOI: 10.15446/ede.v34n65.110347
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    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy
    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy

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