After the 2001 Enron scandal, the Sarbanes–Oxley Act tightened accounting rules on the "mark to market" method.
changes in market regulations, since the collapse of Lehman Brothers, have outlined practices that affect the price discovery mechanism.
Price discovery is a summation of the total market's sentiment at a point in time: a multifaceted, aggregate view on the future.
For example, the price of oil has a direct bearing on the cost of tomatoes in cold climates.
In illiquid markets, price discovery might take place at a predefined auction time or even whenever participant wants to trade.
In a dynamic market, the price discovery takes place continuously while items are bought and sold.
[2] Thanks to the networking of information on online platforms, the process of price recognition can increasingly take place outside of traditional stock exchange-like markets.