TY - JOUR
T1 - Fractal probability laws
AU - Eliazar, Iddo
AU - Klafter, Joseph
PY - 2008/6/18
Y1 - 2008/6/18
N2 - We explore six classes of fractal probability laws defined on the positive half-line: Weibull, Frechét, Lévy, hyper Pareto, hyper beta, and hyper shot noise. Each of these classes admits a unique statistical power-law structure, and is uniquely associated with a certain operation of renormalization. All six classes turn out to be one-dimensional projections of underlying Poisson processes which, in turn, are the unique fixed points of Poissonian renormalizations. The first three classes correspond to linear Poissonian renormalizations and are intimately related to extreme value theory (Weibull, Frechét) and to the central limit theorem (Lévy). The other three classes correspond to nonlinear Poissonian renormalizations. Pareto's law - commonly perceived as the "universal fractal probability distribution" - is merely a special case of the hyper Pareto class.
AB - We explore six classes of fractal probability laws defined on the positive half-line: Weibull, Frechét, Lévy, hyper Pareto, hyper beta, and hyper shot noise. Each of these classes admits a unique statistical power-law structure, and is uniquely associated with a certain operation of renormalization. All six classes turn out to be one-dimensional projections of underlying Poisson processes which, in turn, are the unique fixed points of Poissonian renormalizations. The first three classes correspond to linear Poissonian renormalizations and are intimately related to extreme value theory (Weibull, Frechét) and to the central limit theorem (Lévy). The other three classes correspond to nonlinear Poissonian renormalizations. Pareto's law - commonly perceived as the "universal fractal probability distribution" - is merely a special case of the hyper Pareto class.
UR - http://www.scopus.com/inward/record.url?scp=45849099819&partnerID=8YFLogxK
U2 - 10.1103/PhysRevE.77.061125
DO - 10.1103/PhysRevE.77.061125
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AN - SCOPUS:45849099819
SN - 1539-3755
VL - 77
JO - Physical Review E - Statistical, Nonlinear, and Soft Matter Physics
JF - Physical Review E - Statistical, Nonlinear, and Soft Matter Physics
IS - 6
M1 - 061125
ER -