oligopoly (ol-<<schwa>>-gop-<<schwa>>-lee), n. Control or domination of a market by a few large sellers, creating high prices and low output similar to those found in a monopoly. Cf. MONOPOLY. — oligopolistic,adj. — oligopolist,n.

“One reason for the difficulty in describing and delimiting oligopoly power is the large number of variables that confront any theorist building an oligopoly model. Pure monopoly is akin to a single player game, such as solitaire, but the oligopoly model may be more like a multihand poker game…. Unlike poker, where for any hand one player will win all of the money bet, the players in an oligopolistic market can actually increase the returns that all of them receive through disciplined pricing.” Lawrence A. Sullivan & Warren S. Grimes, The Law of Antitrust: An Integrated Handbook 38–39 (2000).

[Blacks Law 8th]