This paper presents applications of our theory to description of particular economic problems. We give all definitions and equations in Part I and II of our work. Here we argue propagation of small perturbations of economic variables and transactions on economic space. We show that small...

This paper develops economic theory framework free from general equilibrium assumptions. We describe macroeconomics as system of economic agents under action of n risks. Economic and financial variables of agents, their expectations and transactions between agents define macroeconomic variables....

Problem/Relevance - This paper presents new description of the business cycles that for decades remain as relevant and important economic problem. Research Objective/Questions - We propose that econometrics can provide sufficient data for assessments of risk ratings for almost all economic...

This paper develops economic theory tools and framework free from general equilibrium assumptions. We describe macroeconomics as system of economic agents under action risks. Economic and financial variables of agents, their expectations and transactions between agents define macroeconomic...

This paper develops methods and framework of economic theory free from general equilibrium tools and assumptions. We model macroeconomics as system of agents those perform transactions with other agents under action of numerous expectations. Agents expectations are formed by economic and...

This paper modifies single assumption in the base of classical option pricing model and derives further extensions for the Black-Scholes-Merton equation. We regard the price as the ratio of the cost and the volume of market transaction and apply classical assumptions on stochastic Brownian...

This paper considers direct dependence of the market price autocorrelation on statistical moments of the market trades as a must necessary requirement. We regard market time-series of the trade value and volume as origin of price time-series. That determines dependence of the market-based...

This paper considers common consumption-based asset pricing model and derives approximations of the basic pricing equation that describes mutual dependence of the mean price “to-day”, mean payoff “next-day”, price and payoff volatility and impact of the price and payoff autocorrelations....

This paper considers common consumption-based asset pricing model and derives approximations of the basic pricing equation that describes mutual dependence of the mean price “to-day”, mean payoff “next-day”, price and payoff volatility and impact of the price and payoff autocorrelations....

We consider mandatory components of the economic theory: two scales and four dimensions composed by collective agent’s economic variables, transactions and expectations and by the economic policy. We consider all economic variables, transactions and expectations on an equal footing and don’t...