  This paper describes asset price and return disturbances as result of
relations between transactions and multiple kinds of expectations. We show that
disturbances of expectations can cause fluctuations of trade volume, price and
return. We model price disturbances for transactions made under all types of
expectations as weighted sum of partial price and trade volume disturbances for
transactions made under separate kinds of expectations. Relations on price
allow present return as weighted sum of partial return and trade volume
"return" for transactions made under separate expectations. Dependence of price
disturbances on trade volume disturbances as well as dependence of return on
trade volume "return" cause dependence of volatility and statistical
distributions of price and return on statistical properties of trade volume
disturbances and trade volume "return" respectively.
