That being said, I think that the significance of the theory based on intrinsic economic values is recognized as being the foundation or the starting point of valuations and analyses of market prices.
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.