Intermittency and Nonextensivity in Turbulence and Financial Markets

We present a new framework for modeling the statistical behavior of both fully developed turbulence and short-term dynamics of financial markets based on the nonextensive thermostatistics proposed by Tsallis. We also show that intermittency – strong bursts in the energy dissipation or clusters of high price volatility – and nonextensivity – anomalous scaling of usually extensive properties like entropy – are naturally linked by a single parameter q, from the nonextensive thermostatistics.