This paper studies a certain nonlinear operator T from L(2)(R) to itse
lf under which every scaling function is a fixed point, The iterations
T(n)f of T on any L(2)-function f with the Riesz basis property are i
nvestigated; they turn out to be the subdivision-scheme iterates of f
with weights depending on f only. The paper gives conditions far conve
rgence of T(n)f to a limit in different topologies and studies the reg
ularity oi the limit functions. The results are illustrated with examp
les.