oligopóliumot

An oligopoly is a market structure characterized by a small number of firms that dominate an industry. These firms are interdependent, meaning that the actions of one firm can significantly impact the others, leading to strategic decision-making. Competition in an oligopoly can take various forms, including price wars, product differentiation, or collusion. Collusion, where firms agree to fix prices or limit output, is illegal in most jurisdictions due to its anti-competitive nature.

The key features of an oligopoly include a small number of sellers, differentiated or identical products, high barriers to entry, and mutual interdependence among firms. Barriers to entry can include high startup costs, government regulations, or strong brand loyalty. Because of these barriers, new firms find it difficult to enter the market and compete with established players.

Examples of industries often cited as oligopolies include the automobile manufacturing sector, the airline industry, and telecommunications. In these markets, a few large corporations control a significant share of the business. The behavior of firms in an oligopoly can be complex and unpredictable, often leading to extensive analysis by economists. Understanding oligopolistic behavior is crucial for competition policy and for comprehending how certain markets function.