Furthermore, if divergences between theoretical value and market prices continue over a long period, analyses on the cause of those divergences are thought to have important meaning in both theory and practice. Efficient Markets The second understanding is that prices formed in fair and transparent financial markets do not leave opportunities for arbitrage between instruments and between markets.
If a clear arbitrage opportunity is left unexploited, someone is most likely to take advantage of that opportunity to gain profits, thereby bringing about a price correction. Assuming the presence of private economic agents in pursuit of profits, this understanding is quite reasonable.