A model for persistent Levy motion

We propose a model, which allows us to approximate fractional Levy noise an d fractional Levy motion. Our model is based on: (i) the Gnedenko limit the orem for an attraction basin of stable probability law, and (ii) fractional noise as a result of fractional integration/differentiation of a white Lev y noise. We investigate self-affine properties of the approximation and con clude that it is suitable for modeling persistent Levy motion with the Levy index between 1 and 2. (C) 2000 Elsevier Science B.V. All rights reserved.