Our analysis shows that the heterogeneity , trend chasingthrough learning , and the interplay of noisy processes and a stable deterministicequilibrium can be the source of power - law distributed ? uctuations . statisticalanalysis based on monte carlo simulations are conducted to characterize the longmemory and volatility cluster 用基于monte - carlo模擬的統(tǒng)計(jì)分析來(lái)描述市場(chǎng)長(zhǎng)期記憶性和波動(dòng)集聚性,做了arfima模型的參數(shù)估計(jì)和( fi ) garch模型的參數(shù)估計(jì)及其相關(guān)統(tǒng)計(jì)檢驗(yàn)