Briefly, and intuitively—and consistent with #Arbitrage-free pricing and equilibrium above—the linkage is as follows.[17] Given the ability to profit from private information, self-interested traders are motivated to acquire and act on their private information. In doing so, traders contribute to more and more "correct", i.e. efficient, prices: the efficient-market hypothesis, or EMH (Eugene Fama, 1965). The EMH (implicitly) assumes that average expectations constitute an "optimal forecast", i.e. prices using all available information, are identical to the best guess of the future: the assumption of rational expectations.