Economic Policy - The Forth Dimension of the Economic Theory

Market-Based Asset Price Probability

“…Description of price Skewness requires development of the 3-d order economic theory and so on. Studies of theoretical economics (Olkhov, 2022c) have an endless and interesting list of problems for many years ahead.…”

Why Economic Theories and Policies Fail? Unnoticed Variables and Overlooked Economics

“…Variety, variability and uncertainty of expectations of agents make them the headache for econometric observations and theoretical economics. Expectations of agents, as "dimension" component of economic theory, are generated by at least other three "dimensions" of economic theoryeconomic variables, market transactions and economic policy (Olkhov, 2022d). The role of expectations can be treated as a "glue" that ties up impact of the variables, transactions and economic policy and produces market trade decisions of agents.…”

“…Modelling of that jurisdictive "black box" as fourth dimension of the economic theory and description of its impact on economic evolution, risk variations, business cycles and etc., -the though problem for future. However, it could be important keep in mind existing of the four dimensions of the economic theorycollective variables, market transactions, expectations and economic policy&laws (Olkhov, 2022d).…”

“…We present derivation of the statistical properties of the market random price time-series during averaging interval Δ due to Olkhov (2021aOlkhov ( -2022d and refer there for details. Our of the market price probability follows simple thesis: relations (4.1) state that it is impossible independently define probabilities of the trade value C(t i ), volume U(t i ) and price p(t i ) during Δ.…”