A definition of fractional (or
complex) powers Aα, α ∈C, is given for closed linear operators A in a Banach space
X with the resolvent set containing the negative real ray (−∞,0) and such that
{λ(λ + A)−1;0 < λ < ∞} is bounded; fundamental properties such as additivity
(AαAβ= Aα+β), coincidence with the iterations Aα= An for integers α = n, and
analytic dependence on α are discussed. Since the fractional powers Aα are generally
unbounded in both of the cases Reα > 0 and Reα < 0, attention is paid to the
domains D(Aα), which are related to the spaces Dσ and Rτ of x ∈ X defined by
the regularity of (λ + A)−1x at ∞ and 0. When −A generates a bounded
continuous semi-group or a bounded analytic semi-group, more detailed results are
obtained.