Definition of "oligopoly" []

• A market condition in which sellers are so few that the actions of any one of them will materially affect price and have a measurable impact on competitors. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "Google has a mid term oligopoly on search aggregation."
• "Without controlling 100% (or at least very close to it) of the oil market, they have no shot at effectively engaging in oligopoly price setting."
• "The standard Cournot model of an oligopoly is shown not to have a phase transition, as it is equivalent to a continuum version of the Curie-Weiss model."