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