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However, other studies such as the [[Torrance Tests of Creative Thinking]] show that the effect of competition on students depends on each individual's level of [[Agency (philosophy)|agency]]. Students with a high level of agency thrive on competition, are self-motivated, and are willing to risk failure.Compared to their counterparts who are low in agency, these students are more likely to be flexible, adaptable and creative as adults.<ref>{{Citation|last1=Conti|first1=Regina|title=The impact of competition on intrinsic motivation and creativity: Considering gender, gender segregation and gender role orientation|date=December 2001|url=https://www.researchgate.net/publication/223760263|journal=Personality and Individual Differences|volume=31|issue=8|pages=1273–1289|doi=10.1016/S0191-8869(00)00217-8|last2=Picariello|first2=Martha|last3=Collins|first3=Mary}}</ref><ref>{{Citation|last1=Eisenberg|first1=Jacob|title=The Effects of Competition on Improvisers' Motivation, Stress, and Creative Performance|date=16 April 2012|journal=Creativity Research Journal|volume=23|issue=2|pages=129–136|doi=10.1080/10400419.2011.571185|issn=1040-0419|last2=Thompson|first2=William Forde|s2cid=144893872}}</ref> | However, other studies such as the [[Torrance Tests of Creative Thinking]] show that the effect of competition on students depends on each individual's level of [[Agency (philosophy)|agency]]. Students with a high level of agency thrive on competition, are self-motivated, and are willing to risk failure.Compared to their counterparts who are low in agency, these students are more likely to be flexible, adaptable and creative as adults.<ref>{{Citation|last1=Conti|first1=Regina|title=The impact of competition on intrinsic motivation and creativity: Considering gender, gender segregation and gender role orientation|date=December 2001|url=https://www.researchgate.net/publication/223760263|journal=Personality and Individual Differences|volume=31|issue=8|pages=1273–1289|doi=10.1016/S0191-8869(00)00217-8|last2=Picariello|first2=Martha|last3=Collins|first3=Mary}}</ref><ref>{{Citation|last1=Eisenberg|first1=Jacob|title=The Effects of Competition on Improvisers' Motivation, Stress, and Creative Performance|date=16 April 2012|journal=Creativity Research Journal|volume=23|issue=2|pages=129–136|doi=10.1080/10400419.2011.571185|issn=1040-0419|last2=Thompson|first2=William Forde|s2cid=144893872}}</ref> | ||
==Economics== | |||
{{Main|Competition (economics)}} | |||
Merriam-Webster gives as one definition of competition (relating to [[business sector|business]]) as "[...] rivalry: such as [...] the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms".<ref>Compare: [http://m-w.com/dictionary/competition Definition of competition] - "competition [...] 1 : the act or process of competing : rivalry: such as [...] a : the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms "</ref> [[Adam Smith]] in his 1776 book ''[[The Wealth of Nations]]'' and later economists described competition in general as allocating productive [[resource]]s to their most highly valued uses and encouraging [[X-inefficiency|efficiency]].<ref>[[George J. Stigler]] ([[The New Palgrave: A Dictionary of Economics|[1987]]] 2008). "competition," ''[[The New Palgrave Dictionary of Economics]]''. [http://www.dictionaryofeconomics.com/article?id=pde2008_C000261&q=competition&topicid=&result_number=6 Abstract.] | |||
==Forms== | ==Forms== | ||