Complexity International - Volume 10

/vol10/olmedo02/	© Copyright 2002
Volume 10	Received: Accepted:	24 Jul 2002 20 Dec 2003

From linearity to complexity: towards a new economics Olmedo, E., Mateos, R., Sancho, M. & Valderas, J.M.
Abstract
	In this paper we analyze the changes recently undergone in pure research and applications in some areas of Economics, such as Econometrics, Financial Market, Marketing and Management, and its relationships to what it has been called ‘the complex paradigm’. We summarize the role played by the linear approach in Science and why it has been so successful. The use of linear models in Science has had important methodological consequences in the evolution and the concept of Science and the most important are exposed. The linear approach has been widely applied in all sciences but along the XX century, various scientific advances have questioned the omnipresence of the linear hypotheses. We briefly introduce the most important and analyze the consequences in the development of a complexity paradigm. We then center on some areas of Economics and expose the changes in models and methodologies that substantiate the validity and the applicability of this new paradigm to Economics.

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Olmedo, E., Mateos, R., Sancho, M. & Valderas, J.M. (2002), From linearity to complexity: towards a new economics, Complexity International, Volume 10, Paper ID: olmedo02, URL: http://www.complexity.org.au/ci/vol10/olmedo02/

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