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头垄断。

For one thing, it remains an entrenched oligopoly.

首先，它仍然是一个根深蒂固的寡头垄断。

Oligopolies are all over the place.

寡头垄断无处不在。

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头垄断。

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头垄断企业。

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头垄断，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.

最后一类市场是寡头垄断，这是我们今天要关注的。

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

寡头垄断是指准入门槛很高，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.

经济学家们喜欢通过创造一种叫做收益矩阵的东西来解释寡头垄断和博弈论。

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是透明的，但是这个矩阵说明了寡头垄断的很多问题。