Re:Epic win: Jury decides Google has illegal monopoly in app...
by m463 on Monday December 11, 2023 @09:16PM
(#38608453)
> Instead, Apple is a mafia that shakes down all the vendors for the right to sell in their semi-open market square.
I think they actually have a monopsony since you can only sell to apple. If there were other app stores, you could sell to them instead.
"In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from."
I think they actually have a monopsony since you can only sell to apple. If there were other app stores, you could sell to them instead.
"In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from."
https://en.wikipedia.org/wiki/Monopsony
(And they probably have a monopoly wrt iphone customers)