monopoli

Monopoli is a market structure in which a single firm or entity is the sole supplier of a good or service, with no close substitutes. The lack of competition gives the monopolist substantial influence over price and output. Entry of new competitors is typically deterred by high barriers.

Monopolies arise from various sources, including natural conditions such as economies of scale that make a single provider most efficient; legal restrictions such as patents or licenses; control of essential resources; geographic advantages; or strategic behavior that prevents rivals from entering the market. Common subtypes include natural monopolies, legal monopolies, and geographic monopolies.

Economically, a monopoly can reduce consumer welfare by raising prices and restricting output, creating a deadweight loss. In some cases, monopolies may encourage investment and innovation, particularly with patent protection or network effects, but the overall welfare effect depends on regulation, market dynamics, and the possibility of dynamic efficiencies. Governments commonly intervene with antitrust or competition policies, price regulation, or public ownership to promote competitive outcomes.

Historically, the monopoly concept has been central to economic theory since the 19th century, with formal models developed by economists such as Cournot and, later, Bertrand. The study of monopolies also spans industrial organization, regulation, and public policy, addressing both imperfect competition and the conditions under which monopolies may arise or be contained.

In Italian, the board game Monopoly is known as Monopoli. It is widely distributed and has many editions and localized versions. The term also refers to the broader economic concept of monopoly, as well as to situations in which a single provider dominates a market.