oligopoly

oligopoly
Competition amongst the few, where perceptions of competitors' policies and reactions to perceived intentions count for more than price–output considerations. Duopoly (control exercised by two competing agencies) is a special case of oligopoly, and a concrete example of the problems this creates for competition and the entry of new actors into the market is demonstrated by the privatized UK electricity supply industry, which is a very effective duopoly. See also monopoly.