Three-particle quantization condition in a finite volume: 2. General formalism and the analysis of data

We derive the three-body quantization condition in a finite volume using an effective field theory in the particle-dimer picture. Moreover, we consider the extraction of physical observables from the lattice spectrum using the quantization condition. To illustrate the general framework, we calculate the volume-dependent three-particle spectrum in a simple model both below and above the three-particle threshold. The relation to existing approaches is discussed in detail.