- When few firms dominate a market, wages decline (consistent with the economic theory of monopsony). "Going from the 25th percentile to the 75th percentile in concentration is associated with a 5% (OLS) to 17% (IV) decline in posted wages." http://jhr.uwpress.org/content/early/2020/05/04/jhr.monopsony.1218-9914r1.full.pdf+html 10 comments science