hold in practice

[Sepmre]

What this mean regarding to the phrase below:

This assumptions does not hold in practice.


Thanks

 

[5jj]

It means little to me. Have you more context?

 

[Sepmre]

Here is more context:

In standard economic discourse, it assumed that information is available freely. However this assumption does not hold in practice as information gathering and supply is a costly process.

 

[5jj]

However this assumption does not hold in practice as information gathering and supply is a costly process.

This assumption, fine in theory, turns out to be false in real life as ...