The chaos theory assumes that the returns dynamics are not normally distributed and more complex approaches have to be used to study these time series. In fact, the Fractal Market Hypothesis assumes that the returns dynamics are not independent of the investors’ attitudes and represent the...

Economic theory tells that a command system allocates resources poorly because of the impossibility of economic calculation. Therefore, once prices are freed and start to operate at quasi-equilibrium (market-clearing) levels, the hidden inefficiencies come into the open and a massive resource...

This study examines the statistical properties of volatility. Fractal dimension, probability distribution and two-point volatility correlation are used to measure and compare volatility among six different markets for the 12-year period from Jan. 1 1990 to Dec. 31 2001. New York market is found...

Economic theory tells that a command system allocates resources poorly because of the impossibility of economic calculation. Therefore, once prices are freed and start to operate at quasi-equilibrium (market-clearing) levels, the hidden inefficiencies come into the open and a massive resource...

The study concentrated on demonstrating how non-linear modelling can be useful to investigate the behavioural of dynamic economic systems. Using some adequate non-linear models could be a good way to find more refined solutions to actually unsolved problems or ambiguities in economics. Beginning...

An accurate calculation of the fractal dimension of a fracture surface is of prime significance for the quantitative evaluation of mechanical behavior. A laser profilometer is employed to measure a surface roughness of a large sandstone sample. Based on the definition of Minkowski dimension, a...

In this paper, an artificial pollution test is carried out to study the leakage current of porcelain insulators. Fractal theory is adopted to extract the characteristics hidden in leakage current waveforms. Fractal dimensions of the leakage current for the security, forecast and danger zones are...