Generalized Thermostatistical Description of Intermittency and Non-extensivity in Turbulence and Financial Markets

Abstract

We describe a simple and accurate framework for modeling the statistical behavior of both fully developed turbulence and short-term dynamics of financial markets based on the formalism of Tsallis' generalized non-extensive thermostatistics. Within this framework, we show that intermittency and non-extensivity are naturally linked by the entropic parameter q. Our results, concerning both probability density functions and structure functions exponents are in very good agreement with experimental data.

11 pages, 3 figures, 1 table

References in corpus (3)

• The multifractal nature of turbulent energy dissipation
• Nonextensivity and multifractality in low-dimensional dissipative systems
• Thermodynamic Description of the Relaxation of Two-Dimensional Euler Turbulence Using Tsallis Statistics

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