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To: edamo who wrote (143755)10/4/1999 12:06:00 PM
From: lin luo  Read Replies (1) | Respond to of 176387
 
edamo,

It is true that when the market goes to global the underlying process of the market will change. Any processes have short memory but may not have long memory. The problem is how to model the underlying. Some people claimed that some underlying have infinite second moment to make the underlying have long memory...

This may be too much for the thread. And it belongs to econ 100000001? :-)

BTW, I skipped the last year in my Chinese high school, but I received a Ph.D. from Wisconsin.