This study relates the story of a start-upconsulting firm in Sweden, using concepts drawn from Mikhail Bakhtin aboutunderstanding life as a process of becoming and as a moving dialogue betweenhuman beings. Entrepreneurial activity is shown to be an inherent part ofeveryday life. The author uses...

We propose a novel intraday instantaneous volatility measure which utilises sequences of drawdowns and drawups non-equidistantly spaced in physical time as indicators of high-frequency activity of financial markets. The sequences are re-expressed in terms of directional-change intrinsic time...

Two of the most important stylized facts well-known in finance relate to the non-Gaussian distribution and to the volatility clustering of stock returns. In this paper, we show that a new class of stochastic processes – called Multifractional Processes with Random Exponent (MPRE) – can...