Fm. Ramos et al., Nonextensive thermostatistics description of intermittency in turbulence and financial markets, NONLIN ANAL, 47(5), 2001, pp. 3521-3530
We present a new framework for modeling the statistical behavior of both fu
lly developed turbulence and short-term dynamics of financial markets based
on the generalized non-extensive thermostatistics formalism. We also show
that intermittency - strong bursts in the energy dissipation or clusters of
high price volatility and non-extensivity - anomalous scaling of usually e
xtensive properties like entropy - are naturally linked by a single paramet
er q, from the non-extensive thermostatistics.