Mr Cliffs novel idea was to apply his evolutionary computer programs to marketplaces themselves. Why not, he thought, try and see what types of auction would let traders converge most quickly towards an equilibrium price? The results were surprising. In his models, auctions that let buyers and sellers bid at any time like most of todays financial exchanges were less efficient than ones that required relatively more bids from either buyers or sellers. These evolved auctions also withstood big market shocks, such as crashes and panics, better than todays real-world versions. Mr Cliffs most recent results, which will be presented in Sydney, Australia, on December 10th, show that the best type of auction for any market depends crucially on even slight differences in the number of buyers and sellers. www.examda.com
Bank of America has been investigating these new auctions, along with robotic traders, for possible use in electronic exchanges. The hope is that todays financial auctions and online marketplaces might work better by becoming more like their English and Dutch forebears. But what to call such multi-ethnic hybrids? Heres introducing the Cliffhanger .
1. The passage is mainly__________.
A. a review of two kinds of auctions
B. an introduction of trading robots
C. a survey of the trading market
D. about trading alternatives
【考研英语阅读理解的专项练习009】相关文章:
最新
2016-10-18
2016-10-11
2016-10-11
2016-10-08
2016-09-30
2016-09-30