So the inefficient market you get because there are so few players is exacerbated by the fact that they act less than independently. The result is a system like

So the inefficient market you get because there are so few players is exacerbated by the fact that they act less than independently. The result is a system like some kind of primitive, multi-celled sea creature, where you irritate one extremity and the whole thing contracts violently. Eerily similar to the high school dating scene I remember.