The Market Value is the highest estimated price that a buyer would pay and a seller would accept for an item in an open and competitive market. Market value is a concept distinct from market price, which is “the price at which one can transact”, while market value is “the true underlying value” according to theoretical standards. The Market Value concept is most commonly invoked in inefficient markets or disequilibrium situations where prevailing market prices are not reflective of true underlying market value. For market price to equal market value, the market must be well informed and rational expectations must prevail.