the Classical notion of free competition: while the former may be described as an equilibrium state in which atomistic … strategically. We show that price undercutting or outbidding are the typical phenomena that, for the Classical authors, may be … perfect competition and we reconstruct the Classical theory of free competition, as developed, in particular, by Adam Smith …

necessary to establish appropriate rules and institutions for school competition. Instead, ill-conceived grading and curriculum …-profit producers, must account for how institutions and incentive structures affect behavior. …

alternative model with a competing fair and merchant guilds/self-governed merchant communities and show how these institutions …