Fractal behaviour of complex systems

One of the most important properties of systems is complexity. In a simple way, we can define the complexity of a system in terms of the number of elements that it contains, the nature and number of interrelations and the number of levels of embeddedness. When a high level of complexity exists in a system, it is considered a complex system. Complex systems can be soft systems and hard systems. In hard systems, when their elements are interrelated in a non-linear way, they are considered complex systems when they contain a great number of elements interacting in a non-linear way. To try to understand the behaviour of this type of system diverse mathematical tools have been developed. A new scientific discipline with great impact in the analysis of the complex systems has been developed in recent years, called fractal analysis. The study of the complex systems in the framework of fractal theory has been recognized as a new scientific discipline, being sustained by advances that have been made in diverse fields ranging from physics to economics. In this paper the history and the basic concepts of the fractal analysis of complex systems are discussed briefly and an oil crude price volatility fractal analysis is provided.