In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic.
Divided monopolistic supply and monopolistic demand furnish the oligopolistic market structure. The supply side on a monopolistic market requires a counter-supply for the purpose of a real market exchange, and the demand side of a monopolistic market also requires a counter-demand in order an exchange to be realised. A monopolistic market diversifies the sellers and the buyer on it and in the process transforms itself to oligopolistic market as oligopoly or oligopsony. On the oligopolistic market, profit is realised according to the principles of monopolistic profit, but it is done by more than one entrepreneur at a time. So the acquired monopolistic profit is eventually divided between the entrepreneurs on the oligopolistic market.
Historical Backdrop
• FRANCIS EDGEWORTH Mathematical Psychics: indeterminate contracts.
• JOHN BATES CLARK The Problem of Monopoly: oligopoly as natural phenomenon.
• JOHN VON NEUMANN and OSKAR MORGENSTERN The Theory of Economic Behavior: strategic decision making.
• JOHN KENNETH GALBRAITH A Theory of Price Control: oligopolistic sector.
