BRENT – Brent oil futures
C – normalization factors
D – demand
D(t, p, q) – probabilistic market demand function
D>0(t) – total market demand function
ICE – Intercontinental Exchange Futures Europe
F(t, p, q) – probabilistic market deal function
M(t)– number of supply quotations
N(t) – number of demand quotations
MTV(t) – probabilistic market trade volume
P – price
p – independent price variable
p>M – probabilistic market price
q – independent quantity variable
q>M– probabilistic market quantity
Q – quantity
PQ – price and quantity
S – supply
SBER – Sberbank shares
S D – supply and demand
S(t, p, q) – probabilistic market supply function
S>0(t) – total market supply function
t – independent time variable
TV(t) – trade volume
T – time
USD/RUB – USD/RUB futures at MOEX: U.S. dollars are traded for Russian rubles (₽).
"The impartial observer can have no doubt about the reason our generation pays general and enthusiastic tribute to progress in the field of the natural Sciences, while economic Science receives little attention and its value is seriously questioned by the very men in society to whom it should provide a guide for practical action. Never was there an age that placed economic interests higher than does our own. Never was the need of a scientific foundation for economic affairs felt more generally or more acutely. And never was the ability of practical men to utilize the achievements of Science, in all fields of human activity, greater than in our day. If practical men, therefore, rely wholly on their own experience, and disregard our Science in its present state of development, it cannot be due to a lack of serious interest or ability on their part. Nor can their disregard be the result of a haughty rejection of the deeper insight a true Science would give into the circumstances and relationships determining the outcome of their activity. The cause of such remarkable indifference must not be sought elsewhere than in the present state of our Science itself, in the sterility of all past endeavors to find its empirical foundations. The reason for this conspicuous indifference is none other than the present state of science itself, the fruitlessness of hitherto attempts to comprehend its empirical foundations".
Carl Menger [2007].