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Schools and traditions

Buddhists generally classify themselves as either Theravāda or Mahāyāna. This classification is also used by some scholars and is the one ordinarily used in the English language. An alternative scheme used by some scholars divides Buddhism into the following three traditions or geographical or cultural areas: Theravāda (or "Southern Buddhism", "South Asian Buddhism"), East Asian Buddhism (or just "Eastern Buddhism") and Indo-Tibetan Buddhism (or "Northern Buddhism").

The Theravada tradition traces its origins as the oldest tradition holding the Pali Canon as the only authority. The Mahayana tradition reveres the Canon but also derivative literature that developed in the 1st millennium CE; its roots are traceable to the 1st century BCE. The Vajrayana tradition is closer to the Mahayana, includes Tantra, and as the younger of the three is traceable to the 1st millennium CE.

Some scholars use other schemes, such as the multi-dimensional classification in the Encyclopedia of Religion. Buddhists themselves have a variety of other schemes. Hinayana (literally "lesser or inferior vehicle") is sometimes used by Mahāyāna followers to name the family of early philosophical schools and traditions from which contemporary Theravāda emerged, but as the Hinayana term is considered derogatory, a variety of other terms are used instead, including: Śrāvakayāna, Nikaya Buddhism, early Buddhist schools, sectarian Buddhism and conservative Buddhism.

Not all traditions of Buddhism share the same philosophical outlook or treat the same concepts as central. Each tradition, however, does have its own core concepts, and some comparisons can be drawn between them: