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Index Competition

Competition is, in general, a contest or rivalry between two or more entities, organisms, animals, individuals, economic groups or social groups, etc., for territory, a niche, for scarce resources, goods, for mates, for prestige, recognition, for awards, for group or social status, or for leadership and profit. [1]

228 relations: Adam Smith, Adaptation, Agency (philosophy), Agent (economics), Agent-based computational economics, Alfie Kohn, Alfred P. Sloan, Anthropologist, Anthropology, Archery, Asymmetric competition, Auction, Auto racing, Award, Balance of trade, Bargaining, Basketball, Behavioral game theory, Biological interaction, Biology, Boston Review, Brand, Budget, Business, Carl Shapiro, Cartel, Celebrity, Championship, Charles Plott, Chevrolet, Civilization, Cold War, Colin Camerer, Communism, Competition (companies), Competition law, Competition regulator, Competitor analysis, Computer science, Conflict of interest, Consumer, Cooperation, Cost, Country, Cricket, Culture, David M. Kreps, Democracy, Directorate-General for Competition, Diving, ..., Drew Fudenberg, Duopoly, Ecological model of competition, Ecology, Econometrics, Economic model, Economics, Education in Japan, Edward Albee, Election, Electoral system, Elitism, English language, European Union competition law, Evolution, Evolutionary suicide, Experimental economics, Extinction, Fair division, Faruk Gül, Federal Trade Commission, Finance, Fishing, Food, Football, Funding, Game, Game theory, General equilibrium theory, General Motors, George Loewenstein, George Stigler, Gifted education, Government, Government-granted monopoly, Group dynamics, Guild, Gymnastics, Hiking, Horse racing, Imperfect competition, Income, Indiana Review, Industrial organization, Industry, Information economics, INSEAD, International Encyclopedia of the Social & Behavioral Sciences, Investor, Israel Kirzner, Jean Tirole, Joseph Halpern, Journal of Economic Literature, Journal of Personality Assessment, Karen Horney, Karl Marx, Kenneth Arrow, Law, Leadership, Leigh Tesfatsion, License, Literary magazine, Logic, Mahatma Gandhi, Major professional sports leagues in the United States and Canada, Margaret Heffernan, Market economy, Market failure, Market segmentation, Martin Shubik, Mathematical economics, Mathematical model, Matthew Rabin, Mechanism design, Mergers and acquisitions, Microeconomics, Military, Minor league, Monopolistic competition, Monopoly, Mountaineering, Multinational corporation, Narcissism, Nash equilibrium, Nationality, Natural environment, Natural selection, Nature, Neoclassical economics, Neurosis, Noam Nisan, North American Review, Oedipus complex, Ofcom, Oligopoly, Olympic Games, Party system, Perfect competition, Phallic stage, Phenotypic trait, Philosopher, Planned economy, Poker, Political economy, Political science, Politics, Polyethylene terephthalate, Pontiac, Power (social and political), Pride, Prisoner's dilemma, Privatization, Procter & Gamble, Product (business), Profit (economics), Protectionism, Psychologist, Psychology, Public service, Recognition (sociology), Recreation, Regulation, Representative democracy, Resource, Resource (biology), Reverse auction, Richard Dawkins, Richard Layard, Baron Layard, Robert Aumann, Roger Myerson, Roman Empire, Scholarship, Self-esteem, Sergiu Hart, Sharing, Sigmund Freud, Social Darwinism, Social network, Social relation, Sociology, Solution concept, Southwest Review, Soviet Union, Special education, Sport, State monopoly, Stephen Jay Gould, Student competition, Subsidy, Sunlight, Superstar, Sweepstake, Tariff, Tax, Taylor & Francis, Tennis, Territory (animal), The Missouri Review, The New Palgrave Dictionary of Economics, The Wealth of Nations, Torrance Tests of Creative Thinking, Trade, Unfair competition, United States, United States antitrust law, United States Department of Justice, Vernon L. Smith, War, Water, Wealth, Welfare economics, Whitewater kayaking, Win-win game, Winning isn't everything; it's the only thing, World economy, X-inefficiency, Zero-profit condition, Zero-sum game. Expand index (178 more) »

Adam Smith

Adam Smith (16 June 1723 NS (5 June 1723 OS) – 17 July 1790) was a Scottish economist, philosopher and author as well as a moral philosopher, a pioneer of political economy and a key figure during the Scottish Enlightenment era.

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In biology, adaptation has three related meanings.

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Agency (philosophy)

Agency is the capacity of an actor to act in a given environment.

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Agent (economics)

In economics, an agent is an actor and more specifically a decision maker in a model of some aspect of the economy.

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Agent-based computational economics

Agent-based computational economics (ACE) is the area of computational economics that studies economic processes, including whole economies, as dynamic systems of interacting agents.

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Alfie Kohn

Alfie Kohn (born October 15, 1957) is an American author and lecturer in the areas of education, parenting, and human behavior.

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Alfred P. Sloan

Alfred Pritchard Sloan Jr. (May 23, 1875–February 17, 1966) was an American business executive in the automotive industry.

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An anthropologist is a person engaged in the practice of anthropology.

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Anthropology is the study of humans and human behaviour and societies in the past and present.

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Archery is the art, sport, practice or skill of using a bow to shoot arrows.

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Asymmetric competition

Asymmetric competition refers to forms of business competition where are considered competitors in some markets or contexts but not in others.

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An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder.

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Auto racing

Auto racing (also known as car racing, motor racing, or automobile racing) is a motorsport involving the racing of automobiles for competition.

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An award is something given to a person, a group of people, like a sports team, or an organization in recognition of their excellence in a certain field.

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Balance of trade

The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain period.

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Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price and exact nature of a transaction.

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Basketball is a team sport played on a rectangular court.

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Behavioral game theory

Behavioral game theory analyzes interactive strategic decisions and behavior using the methods of game theory, experimental economics, and experimental psychology.

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Biological interaction

Biological interactions are the effects that the organisms in a community have on each other.

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Biology is the natural science that studies life and living organisms, including their physical structure, chemical composition, function, development and evolution.

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Boston Review

Boston Review is a quarterly American political and literary magazine.

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A brand is a name, term, design, symbol, or other feature that distinguishes an organization or product from its rivals in the eyes of the customer.

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A budget is a financial plan for a defined period of time, usually a year.It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows.

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Business is the activity of making one's living or making money by producing or buying and selling products (goods and services).

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Carl Shapiro

Carl Shapiro (born 20 March 1955) is the Transamerica Professor of Business Strategy at the Haas School of Business at the University of California, Berkeley.

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A cartel is a group of apparently independent producers whose goal is to increase their collective profits by means of price fixing, limiting supply, or other restrictive practices.

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Celebrity refers to the fame and public attention accorded by the mass media to individuals or groups or, occasionally, animals, but is usually applied to the persons or groups of people (celebrity couples, families, etc.) themselves who receive such a status of fame and attention.

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In sport, a championship is a competition in which the aim is to decide which individual or team is the champion.

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Charles Plott

Charles Raymond Plott (born July 8, 1938) is an American economist.

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Chevrolet, colloquially referred to as Chevy and formally the Chevrolet Division of General Motors Company, is an American automobile division of the American manufacturer General Motors (GM).

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A civilization or civilisation (see English spelling differences) is any complex society characterized by urban development, social stratification imposed by a cultural elite, symbolic systems of communication (for example, writing systems), and a perceived separation from and domination over the natural environment.

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Cold War

The Cold War was a state of geopolitical tension after World War II between powers in the Eastern Bloc (the Soviet Union and its satellite states) and powers in the Western Bloc (the United States, its NATO allies and others).

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Colin Camerer

Colin Farrell Camerer (born December 4, 1959) is an American Behavioral Financier and a Robert Kirby Professor of Behavioral Finance and Economics at the California Institute of Technology (Caltech).

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In political and social sciences, communism (from Latin communis, "common, universal") is the philosophical, social, political, and economic ideology and movement whose ultimate goal is the establishment of the communist society, which is a socioeconomic order structured upon the common ownership of the means of production and the absence of social classes, money and the state.

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Competition (companies)

Company competition, or competitiveness, pertains to the ability and performance of a firm, sub-sector or country to sell and supply goods and services in a given market, in relation to the ability and performance of other firms, sub-sectors or countries in the same market.

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Competition law

Competition law is a law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies.

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Competition regulator

A competition regulator is a government agency, typically a statutory authority, sometimes called an economic regulator, which regulates and enforces competition laws, and may sometimes also enforce consumer protection laws.

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Competitor analysis

Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors.

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Computer science

Computer science deals with the theoretical foundations of information and computation, together with practical techniques for the implementation and application of these foundations.

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Conflict of interest

A conflict of interest (COI) is a situation in which a person or organization is involved in multiple interests, financial or otherwise, and serving one interest could involve working against another.

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A consumer is a person or organization that use economic services or commodities.

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Cooperation (sometimes written as co-operation) is the process of groups of organisms working or acting together for common, mutual, or some underlying benefit, as opposed to working in competition for selfish benefit.

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In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore.

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A country is a region that is identified as a distinct national entity in political geography.

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Cricket is a bat-and-ball game played between two teams of eleven players each on a cricket field, at the centre of which is a rectangular pitch with a target at each end called the wicket (a set of three wooden stumps upon which two bails sit).

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Culture is the social behavior and norms found in human societies.

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David M. Kreps

David Marc "Dave" Kreps (born 1950 in New York) is a game theorist and economist and professor at the Graduate School of Business at Stanford University.

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Democracy (δημοκρατία dēmokraa thetía, literally "rule by people"), in modern usage, has three senses all for a system of government where the citizens exercise power by voting.

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Directorate-General for Competition

The Directorate-General for Competition (DG COMP) is a Directorate-General of the European Commission, located in Brussels, Belgium.

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Diving is the sport of jumping or falling into water from a platform or springboard, usually while performing acrobatics.

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Drew Fudenberg

Drew Fudenberg (born March 2, 1957 in New York City) is the Paul A. Samuelson Professor of Economics at MIT.

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A duopoly (from Greek δύο, duo (two) + πωλεῖν, polein (to sell)) is a form of oligopoly where only two sellers exist in one market.

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Ecological model of competition

The ecological model of competition is a reassessment of the nature of competition in the economy.

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Ecology (from οἶκος, "house", or "environment"; -λογία, "study of") is the branch of biology which studies the interactions among organisms and their environment.

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Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations.

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Economic model

In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them.

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Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Education in Japan

Education in Japan is compulsory at the elementary and lower secondary levels.

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Edward Albee

Edward Franklin Albee III (March 12, 1928 – September 16, 2016) was an American playwright known for works such as The Zoo Story (1958), The Sandbox (1959), Who's Afraid of Virginia Woolf? (1962), and A Delicate Balance (1966).

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An election is a formal group decision-making process by which a population chooses an individual to hold public office.

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Electoral system

An electoral system is a set of rules that determines how elections and referendums are conducted and how their results are determined.

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Elitism is the belief or attitude that individuals who form an elite — a select group of people with a certain ancestry, intrinsic quality, high intellect, wealth, special skills, or experience — are more likely to be constructive to society as a whole, and therefore deserve influence or authority greater than that of others.

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English language

English is a West Germanic language that was first spoken in early medieval England and is now a global lingua franca.

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European Union competition law

European competition law is the competition law in use within the European Union.

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Evolution is change in the heritable characteristics of biological populations over successive generations.

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Evolutionary suicide

Evolutionary suicide is an evolutionary phenomenon in which the process of adaptation causes the population to become extinct.

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Experimental economics

Experimental economics is the application of experimental methods to study economic questions.

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In biology, extinction is the termination of an organism or of a group of organisms (taxon), normally a species.

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Fair division

Fair division is the problem of dividing a set of goods or resources between several people who have an entitlement to them, such that each person receives his/her due share.

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Faruk Gül

Faruk R. Gül is a Turkish American economist, a professor of economics at Princeton University and a Fellow of the Econometric Society.

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Federal Trade Commission

The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act.

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Finance is a field that is concerned with the allocation (investment) of assets and liabilities (known as elements of the balance statement) over space and time, often under conditions of risk or uncertainty.

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Fishing is the activity of trying to catch fish.

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Food is any substance consumed to provide nutritional support for an organism.

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Football is a family of team sports that involve, to varying degrees, kicking a ball with a foot to score a goal.

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Funding is the act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or company.

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A game is a structured form of play, usually undertaken for enjoyment and sometimes used as an educational tool.

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Game theory

Game theory is "the study of mathematical models of conflict and cooperation between intelligent rational decision-makers".

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General equilibrium theory

In economics, general equilibrium theory attempts to explain the behavior of supply, demand, and prices in a whole economy with several or many interacting markets, by seeking to prove that the interaction of demand and supply will result in an overall general equilibrium.

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General Motors

General Motors Company, commonly referred to as General Motors (GM), is an American multinational corporation headquartered in Detroit that designs, manufactures, markets, and distributes vehicles and vehicle parts, and sells financial services.

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George Loewenstein

George Freud Loewenstein (born August 9, 1955) is an American educator and economist.

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George Stigler

George Joseph Stigler (January 17, 1911 – December 1, 1991) was an American economist, the 1982 laureate in Nobel Memorial Prize in Economic Sciences and a key leader of the Chicago School of Economics.

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Gifted education

Gifted education (also known as Gifted and Talented Education (GATE), Talented and Gifted (TAG), or G/T) is a broad term for special practices, procedures, and theories used in the education of children who have been identified as gifted or talented.

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A government is the system or group of people governing an organized community, often a state.

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Government-granted monopoly

In economics, a government-granted monopoly (also called a "de jure monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.

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Group dynamics

Group dynamics is a system of behaviors and psychological processes occurring within a social group (intragroup dynamics), or between social groups (intergroup dynamics).

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A guild is an association of artisans or merchants who oversee the practice of their craft/trade in a particular area.

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Gymnastics is a sport that requires balance, strength, flexibility, agility, coordination, and endurance.

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Hiking is the preferred term, in Canada and the United States, for a long, vigorous walk, usually on trails (footpaths), in the countryside, while the word walking is used for shorter, particularly urban walks.

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Horse racing

Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition.

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Imperfect competition

In economic theory, imperfect competition is a type of market structure showing some but not all features of competitive markets.

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Income is the consumption and savings opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.

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Indiana Review

Indiana Review (IR) is a small, student-run literary magazine at Indiana University Bloomington.

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Industrial organization

In economics, industrial organization or industrial economy is a field that builds on the theory of the firm by examining the structure of (and, therefore, the boundaries between) firms and markets.

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Industry is the production of goods or related services within an economy.

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Information economics

Information economics or the economics of information is a branch of microeconomic theory that studies how information and information systems affect an economy and economic decisions.

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INSEAD is a graduate and proprofit business school with campuses in Europe (Fontainebleau, France), Asia (Singapore), and the Middle East (Abu Dhabi).

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International Encyclopedia of the Social & Behavioral Sciences

The International Encyclopedia of the Social & Behavioral Sciences, originally edited by Neil J. Smelser and Paul B. Baltes, is a 26-volume work published by Elsevier.

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An investor is a person that allocates capital with the expectation of a future financial return.

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Israel Kirzner

Israel Meir Kirzner (also Yisroel Mayer Kirzner; born February 13, 1930) is a British-born American economist closely identified with the Austrian School.

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Jean Tirole

Jean Tirole (born 9 August 1953) is a French professor of economics.

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Joseph Halpern

Joseph Yehuda Halpern (born 1953) is a professor of computer science at Cornell University.

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Journal of Economic Literature

The Journal of Economic Literature is a peer-reviewed academic journal, published by the American Economic Association, that surveys the academic literature in economics.

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Journal of Personality Assessment

The Journal of Personality Assessment is a bimonthly peer-reviewed academic journal covering research on measurement issues in the field of personality that was established in 1936.

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Karen Horney

Karen Horney (16 September 1885 – 4 December 1952) was a German psychoanalyst who practiced in the United States during her later career.

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Karl Marx

Karl MarxThe name "Karl Heinrich Marx", used in various lexicons, is based on an error.

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Kenneth Arrow

Kenneth Joseph "Ken" Arrow (23 August 1921 – 21 February 2017) was an American economist, mathematician, writer, and political theorist.

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Law is a system of rules that are created and enforced through social or governmental institutions to regulate behavior.

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Leadership is both a research area and a practical skill encompassing the ability of an individual or organization to "lead" or guide other individuals, teams, or entire organizations.

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Leigh Tesfatsion

Leigh Tesfatsion is a computational economist who taught at Iowa State University.

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A license (American English) or licence (British English) is an official permission or permit to do, use, or own something (as well as the document of that permission or permit).

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Literary magazine

A literary magazine is a periodical devoted to literature in a broad sense.

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Logic (from the logikḗ), originally meaning "the word" or "what is spoken", but coming to mean "thought" or "reason", is a subject concerned with the most general laws of truth, and is now generally held to consist of the systematic study of the form of valid inference.

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Mahatma Gandhi

Mohandas Karamchand Gandhi (2 October 1869 – 30 January 1948) was an Indian activist who was the leader of the Indian independence movement against British rule.

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Major professional sports leagues in the United States and Canada

The major professional sports leagues in the United States and Canada are the highest professional competitions of team sports in those countries.

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Margaret Heffernan

Margaret Heffernan (born 1955) is an international businesswoman, author, interviewer, and TED speaker.

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Market economy

A market economy is an economic system in which the decisions regarding investment, production, and distribution are guided by the price signals created by the forces of supply and demand.

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Market failure

In economics, market failure is a situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.

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Market segmentation

Market segmentation is the process of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics.

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Martin Shubik

Martin Shubik (born March 24, 1926) is an American economist, who is Professor Emeritus of Mathematical Institutional Economics at Yale University.

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Mathematical economics

Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.

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Mathematical model

A mathematical model is a description of a system using mathematical concepts and language.

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Matthew Rabin

Matthew Joel Rabin (born December 27, 1963) is the Pershing Square Professor of Behavioral Economics in the Harvard Economics Department and Harvard Business School.

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Mechanism design

Mechanism design is a field in economics and game theory that takes an engineering approach to designing economic mechanisms or incentives, toward desired objectives, in strategic settings, where players act rationally.

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Mergers and acquisitions

Mergers and acquisitions (M&A) are transactions in which the ownership of companies, other business organizations, or their operating units are transferred or consolidated with other entities.

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Microeconomics (from Greek prefix mikro- meaning "small") is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.

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A military or armed force is a professional organization formally authorized by a sovereign state to use lethal or deadly force and weapons to support the interests of the state.

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Minor league

Minor leagues are professional sports leagues which are not regarded as the premier leagues in those sports.

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Monopolistic competition

Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another (e.g. by branding or quality) and hence are not perfect substitutes.

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A monopoly (from Greek μόνος mónos and πωλεῖν pōleîn) exists when a specific person or enterprise is the only supplier of a particular commodity.

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Mountaineering is the sport of mountain climbing.

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Multinational corporation

A multinational corporation (MNC) or worldwide enterprise is a corporate organization that owns or controls production of goods or services in at least one country other than its home country.

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Narcissism is the pursuit of gratification from vanity or egotistic admiration of one's own attributes.

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Nash equilibrium

In game theory, the Nash equilibrium, named after American mathematician John Forbes Nash Jr., is a solution concept of a non-cooperative game involving two or more players in which each player is assumed to know the equilibrium strategies of the other players, and no player has anything to gain by changing only their own strategy.

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Nationality is a legal relationship between an individual person and a state.

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Natural environment

The natural environment encompasses all living and non-living things occurring naturally, meaning in this case not artificial.

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Natural selection

Natural selection is the differential survival and reproduction of individuals due to differences in phenotype.

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Nature, in the broadest sense, is the natural, physical, or material world or universe.

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Neoclassical economics

Neoclassical economics is an approach to economics focusing on the determination of goods, outputs, and income distributions in markets through supply and demand.

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Neurosis is a class of functional mental disorders involving chronic distress but neither delusions nor hallucinations.

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Noam Nisan

Noam Nisan (נעם ניסן; born June 20, 1961) is an Israeli computer scientist, a professor of computer science at the Hebrew University of Jerusalem.

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North American Review

North American Review (NAR) was the first literary magazine in the United States.

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Oedipus complex

The Oedipus complex is a concept of psychoanalytic theory.

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The Office of Communications (Y Swyddfa Gyfathrebiadau), commonly known as Ofcom, is the UK government-approved regulatory and competition authority for the broadcasting, telecommunications and postal industries of the United Kingdom.

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An oligopoly (from Ancient Greek ὀλίγος (olígos) "few" + πωλεῖν (polein) "to sell") is a market form wherein a market or industry is dominated by a small number of large sellers (oligopolists).

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Olympic Games

The modern Olympic Games or Olympics (Jeux olympiques) are leading international sporting events featuring summer and winter sports competitions in which thousands of athletes from around the world participate in a variety of competitions.

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Party system

A party system is a concept in comparative political science concerning the system of government by political parties in a democratic country.

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Perfect competition

In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition.

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Phallic stage

In Freudian psychoanalysis, the phallic stage is the third stage of psychosexual development, spanning the ages of three to six years, wherein the infant's libido (desire) centers upon his or her genitalia as the erogenous zone.

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Phenotypic trait

A phenotypic trait, or simply trait, is a distinct variant of a phenotypic characteristic of an organism; it may be either inherited or determined environmentally, but typically occurs as a combination of the two.

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A philosopher is someone who practices philosophy, which involves rational inquiry into areas that are outside either theology or science.

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Planned economy

A planned economy is a type of economic system where investment and the allocation of capital goods take place according to economy-wide economic and production plans.

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Poker is a family of card games that combines gambling, strategy, and skill.

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Political economy

Political economy is the study of production and trade and their relations with law, custom and government; and with the distribution of national income and wealth.

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Political science

Political science is a social science which deals with systems of governance, and the analysis of political activities, political thoughts, and political behavior.

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Politics (from Politiká, meaning "affairs of the cities") is the process of making decisions that apply to members of a group.

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Polyethylene terephthalate

Polyethylene terephthalate (sometimes written poly(ethylene terephthalate)), commonly abbreviated PET, PETE, or the obsolete PETP or PET-P, is the most common thermoplastic polymer resin of the polyester family and is used in fibres for clothing, containers for liquids and foods, thermoforming for manufacturing, and in combination with glass fibre for engineering resins.

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Pontiac is a now-defunct car brand that was owned, made, and sold by General Motors.

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Power (social and political)

In social science and politics, power is the ability to influence or outright control the behaviour of people.

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Pride is an inwardly directed emotion that carries two antithetical meanings.

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Prisoner's dilemma

The prisoner's dilemma is a standard example of a game analyzed in game theory that shows why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so.

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Privatization (also spelled privatisation) is the purchase of all outstanding shares of a publicly traded company by private investors, or the sale of a state-owned enterprise to private investors.

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Procter & Gamble

Procter & Gamble Co. (P&G) is an American multi-national consumer goods corporation headquartered in downtown Cincinnati, Ohio, founded in 1837 by British American William Procter and Irish American James Gamble.

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Product (business)

In marketing, a product is anything that can be offered to a market that might satisfy a want or need.

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Profit (economics)

In economics, profit in the accounting sense of the excess of revenue over cost is the sum of two components: normal profit and economic profit.

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Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.

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A psychologist studies normal and abnormal mental states from cognitive, emotional, and social processes and behavior by observing, interpreting, and recording how individuals relate to one another and to their environments.

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Psychology is the science of behavior and mind, including conscious and unconscious phenomena, as well as feeling and thought.

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Public service

Public service is a service which is provided by government to people living within its jurisdiction, either directly (through the public sector) or by financing provision of services.

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Recognition (sociology)

Recognition in sociology is public acknowledgement of person's status or merits (achievements, virtues, service, etc.). In the field of psychology, it is understood that a person who seeks excessive recognition could themselves be exhibiting traits of a narcissistic personality disorder.

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Recreation is an activity of leisure, leisure being discretionary time.

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Regulation is an abstract concept of management of complex systems according to a set of rules and trends.

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Representative democracy

Representative democracy (also indirect democracy, representative republic or psephocracy) is a type of democracy founded on the principle of elected officials representing a group of people, as opposed to direct democracy.

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A resource is a source or supply from which a benefit is produced.

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Resource (biology)

In Biology and Ecology, a resource is a substance or object in the environment required by an organism for normal growth, maintenance, and reproduction.

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Reverse auction

A reverse auction is a type of auction in which the roles of buyer and seller are reversed.

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Richard Dawkins

Clinton Richard Dawkins (born 26 March 1941) is an English ethologist, evolutionary biologist, and author.

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Richard Layard, Baron Layard

Peter Richard Grenville Layard, Baron Layard FBA (born 15 March 1934) is a British labour economist, currently working as programme director of the Centre for Economic Performance at the London School of Economics.

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Robert Aumann

Robert John Aumann (Hebrew name: ישראל אומן, Yisrael Aumann; born June 8, 1930) is an Israeli-American mathematician and a member of the United States National Academy of Sciences.

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Roger Myerson

Roger Bruce Myerson (born 1951) is an American economist and professor at the University of Chicago.

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Roman Empire

The Roman Empire (Imperium Rōmānum,; Koine and Medieval Greek: Βασιλεία τῶν Ῥωμαίων, tr.) was the post-Roman Republic period of the ancient Roman civilization, characterized by government headed by emperors and large territorial holdings around the Mediterranean Sea in Europe, Africa and Asia.

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A scholarship is an award of financial aid for a student to further their education.

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Self-esteem reflects an individual's overall subjective emotional evaluation of his or her own worth.

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Sergiu Hart

Sergiu Hart (born 1949) is an Israeli mathematician and economist and the past President of the Game Theory Society (2008–2010).

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Sharing is the joint use of a resource or space.

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Sigmund Freud

Sigmund Freud (born Sigismund Schlomo Freud; 6 May 1856 – 23 September 1939) was an Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.

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Social Darwinism

The term Social Darwinism is used to refer to various ways of thinking and theories that emerged in the second half of the 19th century and tried to apply the evolutionary concept of natural selection to human society.

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Social network

A social network is a social structure made up of a set of social actors (such as individuals or organizations), sets of dyadic ties, and other social interactions between actors.

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Social relation

In social science, a social relation or social interaction is any relationship between two or more individuals.

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Sociology is the scientific study of society, patterns of social relationships, social interaction, and culture.

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Solution concept

In game theory, a solution concept is a formal rule for predicting how a game will be played.

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Southwest Review

The Southwest Review is a literary journal published quarterly, based on the Southern Methodist University campus in Dallas, Texas.

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Soviet Union

The Soviet Union, officially the Union of Soviet Socialist Republics (USSR) was a socialist state in Eurasia that existed from 1922 to 1991.

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Special education

Special education (also known as special needs education, aided education, exceptional education or Special Ed) is the practice of educating students with an IEP or Section 504 in a way that addresses their individual differences and needs.

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Sport (British English) or sports (American English) includes all forms of competitive physical activity or games which, through casual or organised participation, aim to use, maintain or improve physical ability and skills while providing enjoyment to participants, and in some cases, entertainment for spectators.

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State monopoly

In economics, a government monopoly (or public monopoly) is a form of coercive monopoly in which a government agency or government corporation is the sole provider of a particular good or service and competition is prohibited by law.

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Stephen Jay Gould

Stephen Jay Gould (September 10, 1941 – May 20, 2002) was an American paleontologist, evolutionary biologist, and historian of science.

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Student competition

A student competition is any student event where an individual or a team compete for a prize where skill is the main predictor of the winner.

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A subsidy is a form of financial aid or support extended to an economic sector (or institution, business, or individual) generally with the aim of promoting economic and social policy.

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Sunlight is a portion of the electromagnetic radiation given off by the Sun, in particular infrared, visible, and ultraviolet light.

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Superstar is a term used to refer to someone who has great popular appeal and is widely known, prominent, or successful in some field.

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A sweepstake is a type of contest where a prize or prizes may be awarded to a winner or winners.

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A tariff is a tax on imports or exports between sovereign states.

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A tax (from the Latin taxo) is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.

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Taylor & Francis

Taylor & Francis Group is an international company originating in England that publishes books and academic journals.

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Tennis is a racket sport that can be played individually against a single opponent (singles) or between two teams of two players each (doubles).

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Territory (animal)

In ethology, territory is the sociographical area that an animal of a particular species consistently defends against conspecifics (or, occasionally, animals of other species).

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The Missouri Review

The Missouri Review is a literary magazine founded in 1978 by the University of Missouri.

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The New Palgrave Dictionary of Economics

The New Palgrave Dictionary of Economics (2008), 2nd ed., is an eight-volume reference work on economics, edited by Steven N. Durlauf and Lawrence E. Blume and published by Palgrave Macmillan.

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The Wealth of Nations

An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith.

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Torrance Tests of Creative Thinking

The Torrance Tests of Creative Thinking is a test of creativity.

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Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money.

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Unfair competition

Unfair (or disloyal) competition in commercial law is a deceptive business practice that causes economic harm to other businesses or to consumers.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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United States antitrust law

United States antitrust law is a collection of federal and state government laws that regulates the conduct and organization of business corporations, generally to promote fair competition for the benefit of consumers.

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United States Department of Justice

The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the U.S. government, responsible for the enforcement of the law and administration of justice in the United States, equivalent to the justice or interior ministries of other countries. The department was formed in 1870 during the Ulysses S. Grant administration. The Department of Justice administers several federal law enforcement agencies including the Federal Bureau of Investigation (FBI), and the Drug Enforcement Administration (DEA). The department is responsible for investigating instances of financial fraud, representing the United States government in legal matters (such as in cases before the Supreme Court), and running the federal prison system. The department is also responsible for reviewing the conduct of local law enforcement as directed by the Violent Crime Control and Law Enforcement Act of 1994. The department is headed by the United States Attorney General, who is nominated by the President and confirmed by the Senate and is a member of the Cabinet. The current Attorney General is Jeff Sessions.

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Vernon L. Smith

Vernon Lomax Smith (born January 1, 1927) is an American professor of economics and law at Chapman University's Argyros School of Business and Economics and School of Law in Orange, California, a former professor of economics and law at George Mason University, and a board member of the Mercatus Center in Arlington, Virginia.

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War is a state of armed conflict between states, societies and informal groups, such as insurgents and militias.

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Water is a transparent, tasteless, odorless, and nearly colorless chemical substance that is the main constituent of Earth's streams, lakes, and oceans, and the fluids of most living organisms.

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Wealth is the abundance of valuable resources or valuable material possessions.

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Welfare economics

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.

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Whitewater kayaking

Whitewater kayaking is the sport of paddling a kayak on a moving body of water, typically a whitewater river.

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Win-win game

A win–win game is a game which is designed in a way that all participants can profit from it in one way or the other.

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Winning isn't everything; it's the only thing

"Winning isn’t everything; it's the only thing" is a well-known quotation in sports.

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World economy

The world economy or global economy is the economy of the world, considered as the international exchange of goods and services that is expressed in monetary units of account (money).

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X-inefficiency is the difference between efficient behavior of businesses assumed or implied by economic theory and their observed behavior in practice caused by a lack of competitive pressure.

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Zero-profit condition

In economic competition theory, the zero-profit condition describes the condition that occurs when an industry or type of business has an extremely low (near-zero) cost of entry.

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Zero-sum game

In game theory and economic theory, a zero-sum game is a mathematical representation of a situation in which each participant's gain or loss of utility is exactly balanced by the losses or gains of the utility of the other participants.

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[1] https://en.wikipedia.org/wiki/Competition

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