Robinson Professor of Mathematical Sciences
Friday, October 22, 1999
Free and Open to the Public
Dreamers used to believe they might predict financial prices exactly, but settled down to believe in predictions that are "mildly" in error yet allow riskless portfolios. The actual variation of prices is "wild" in many ways, but close to the speaker's latest model, which will be sketched.
model centers on the concept of multifractal time. No longer
a recent sensation, fractals/multifractals are, in many
fields, not only the best models, but the only sensible
ones. The internet, a recent technology, is also a recent addition to an already long list of cases (of which will be sketched), where fractality holds over a very broad range of scales, as measured by the ratio from the largest to the smallest. These cases range from the works of nature to the works of man.
A public lecture presented by the Institute for Mathematics and its Applications as part of the IMA workshop "Scalar Phenomena in Communication Networks," October 22 -24, 1999
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