monopolistic competition


Health Economics

  • (written as Monopolistic Competition)
    A form of market in which sellers with differentiated products have to search out the price that is best for them but in which they take the prices charged by their competitors as given. The description seems to fit many health care markets quite well. The originator of the term was Chamberlin (1933).


  • noun a situation where there are only a few producers who therefore control the market between them