A small number of companies that control an industry is called an oligopoly.

少数控制一个行业的公司被称为寡垄断。

For one thing, it remains an entrenched oligopoly.

首先，它仍然一个根深蒂固的寡垄断。

Oligopolies are all over the place.

寡垄断无处不在。

Now, when few firms have a large majority of market share, it's called an oligopoly.

几家公司拥有绝大多数市场份额的情况被称为寡垄断。

A new species of big beast had reared its head: vast state-controlled oligopolies from emerging markets.

来自新兴市场的庞大国有寡垄断企业。

Warren Buffett, a man who knows an oligopoly when he sees one, bought nearly $10bn-worth of airline stock in 2016.

巴菲特很善于发现寡垄断，2016年，他买入了价值近100亿美元的航空公司股票。

The last type are oligopolies, and that's what we're gonna focus on today.

最后一类市场寡垄断，这今天要关注的。

Oligopolies are markets that have high barriers to entry and are controlled by a few large companies.

寡垄断指准入门槛很高，并由几家大公司控制的市场。

Economists like to explain oligopolies and game theory by creating something called a payoff matrix.

经济学家喜欢通过创造一种叫做收益矩阵的东西来解释寡垄断和博弈论。

Now, payoff scenarios for companies are never this transparent, but the matrix says a lot about oligopolies.

公司的收益情况从来都不透明的，但这个矩阵说明了寡垄断的很多问题。

But an oligopoly of rivals is much better than a monopoly.

但，多寡竞争的格局，总比一家独大的垄断格局好很多。

In America digital markets are shifting towards oligopolies, in which second and third firms compete vigorously against the incumbent.

在美国，数字市场正进入寡垄断的局面，第二名和第三名与现任龙老大展开激烈竞争。