The Navy and Newport News: a case study of a monopoly-monopsony duet

• Dave Ress ^[1]
  1. [1] University of New England

     University of New England

     Australia

     
• Localización: War in history, ISSN-e 1477-0385, ISSN 0968-3445, Vol. 30, Nº. 3, 2023, págs. 320-336
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • The U.S. Navy and Newport News Shipbuilding have between them created an unusual – probably unique – monopoly-monopsony duet, in this case for construction and refueling of nuclear aircraft carriers. Monopoly-monopsony dynamics captured a modest amount of theoretical attention, beginning with Francis Y. Edgeworth in the late 19th century. These analyses generally agreed such markets required a kind of collaboration between buyer and seller unlike the usual dynamic of competitive or monopoly-multiple customer markets. This conclusion is tested and confirmed through a story of the history of the formation of the Navy-Newport News monopoly-monopsony duet.