Efficient markets theory is a field of economics which seeks to explain the workings of capital markets such as the stock market. In an efficient market, the prices of stocks reflect a rational assessment of the true underlying worth of a stock. This can be contrasted with an inefficient market in which prices might be affected by other factors such as fashion, greed, panic and stock market bubbles. A central part of this theory is the Efficient market hypothesis.
... to an adherent of a monarch or royal family.
Of the more specific uses of the term, the most common include:
1. A supporter of King Charles I of England during the ...