This papers attempts to show that the neoclassical analysis of monopsony is erroneous. We deal with this issue under …

Monopsony is the buyer-side counterpart to monopoly, a situation in which a single purchaser or payer dominates a … market for goods or services. When a government entity is the dominant or sole payer for a service, a governmental monopsony … results; one example is the provision of indigent defense in criminal cases. Monopsony theory would predict all the problems …

reveals that the partial equilibrium methodology cannot be relied upon in assessments of monopoly or monopsony whether … equilibrium effects of market power are considered, monopoly turns out to be a far more serious concern than monopsony … predatory or not. Our results show that issues in "buy-side" monopsony matters are not simply a mirror image of issues of "sell …