★以下是英文寫作翻譯頻道為大家整理的《英文閱讀翻譯參考》，供大家參考。
Dave Cliff,a researcher at Hewlett-Packard Laboratories in Bristol,England,has been creating trading robots for seven years.In computer simulations he lets them evolve"genetically",and so allows them to adapt and fit models of real-world financial markets.His experiments have suggested that a redesign of some markets could lead to greater efficiency.Last year,a search group at IBM showed that Mr Cliff's artificial traders could consistently beat the human variety,in various kinds of market.Nearly all take theshape of an auction.One well-known type is the English auction,familiar to customers of the salesrooms of Christie's and Sotheby's,where sellers keep mum on their offer price,and buyers increase their bids by stages until only one remains.
戴夫克利夫，惠普實驗室的研究員在布里斯托爾，英國，創(chuàng)造了機(jī)器人七年。在計算機(jī)模擬，他讓他們發(fā)展的“基因”，從而讓它們適應(yīng)和適應(yīng)模型的現(xiàn)實世界的金融市場。實驗表明，重新設(shè)計的一些市場可能導(dǎo)致更大的效率。最后年，一個搜索組展示，克利夫的人造交易員可以始終戰(zhàn)勝人類品種，各類市場。幾乎所有參加拍賣時。一個眾所周知的類型是英式拍賣，讓顧客熟悉的門市部克里斯蒂和蘇富比，雙方保持沉默的報價價格與買家，增加其出價的階段，直到剩下一個。
At the other extreme is the Dutch auction,familiar to 17th-century tulip-traders in the Netherlands as well as to bidders for American Treasury bonds.Here,buyers remain silent,and a seller reduces his price until it is accepted.Most markets for shares,commodities,foreign exchange and derivatives are a mixture of these two types:buyers and sellers can announce their bid or offer prices at any time,and deals are constantly being closed,a so-called"continuons double auction".
在另一個極端是荷蘭式拍賣，熟悉tulip-traders在17世紀(jì)荷蘭以及競購美國國債。這里，買家和賣家保持沉默，直到它接受降低其價格。大多數(shù)股票市場，期貨，外匯和衍生產(chǎn)品是一種混合的這些類型：買家賣方可以宣告其投標(biāo)或報價的價格在任何時間，并不斷被關(guān)閉，一個所謂的“連續(xù)雙向拍賣”。
Mr Cliff's 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 a balance price?The results were surprising.In his models,auctions that let buyers and sellers bid at any time like most of today's 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 today's real-world versions.Mr Cliff's 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.
克利夫的新思路就是將他的進(jìn)化的計算機(jī)程序市場自己。為什么不呢，他想，看看什么類型的拍賣會讓交易者收斂最快實現(xiàn)平衡的價格嗎？結(jié)果是令人驚訝的。在他的模型中，拍賣，讓買方和賣方出價，在任何時間最喜歡今天的金融交流少效率比那些需要比較多的出價從買家或者賣家。這些“拍賣”也經(jīng)受住了大市場的沖擊，比如崩盤和恐慌，比今天的現(xiàn)實世界版本?？死虻淖钚陆Y(jié)果，并將在悉尼，澳大利亞，十二月十日，表明，類型的拍賣市場在很大程度上取決于甚至略有不同數(shù)量的買家和賣家。
Bank of America has been investigating these new auctions,along with robotic traders,for possible use in electronic exchanges.The hope is that today's financial auctions and online marketplaces might work better by becoming more like their English and Dutch ancestors.
美國銀行一直在調(diào)查這些新的拍賣，隨著機(jī)器人交易員，可能使用電子交流。希望是今天的拍賣和網(wǎng)上市場可能會更好地工作變得越來越喜歡英語和荷蘭語的祖先。
Dave Cliff,a researcher at Hewlett-Packard Laboratories in Bristol,England,has been creating trading robots for seven years.In computer simulations he lets them evolve"genetically",and so allows them to adapt and fit models of real-world financial markets.His experiments have suggested that a redesign of some markets could lead to greater efficiency.Last year,a search group at IBM showed that Mr Cliff's artificial traders could consistently beat the human variety,in various kinds of market.Nearly all take theshape of an auction.One well-known type is the English auction,familiar to customers of the salesrooms of Christie's and Sotheby's,where sellers keep mum on their offer price,and buyers increase their bids by stages until only one remains.
戴夫克利夫，惠普實驗室的研究員在布里斯托爾，英國，創(chuàng)造了機(jī)器人七年。在計算機(jī)模擬，他讓他們發(fā)展的“基因”，從而讓它們適應(yīng)和適應(yīng)模型的現(xiàn)實世界的金融市場。實驗表明，重新設(shè)計的一些市場可能導(dǎo)致更大的效率。最后年，一個搜索組展示，克利夫的人造交易員可以始終戰(zhàn)勝人類品種，各類市場。幾乎所有參加拍賣時。一個眾所周知的類型是英式拍賣，讓顧客熟悉的門市部克里斯蒂和蘇富比，雙方保持沉默的報價價格與買家，增加其出價的階段，直到剩下一個。
At the other extreme is the Dutch auction,familiar to 17th-century tulip-traders in the Netherlands as well as to bidders for American Treasury bonds.Here,buyers remain silent,and a seller reduces his price until it is accepted.Most markets for shares,commodities,foreign exchange and derivatives are a mixture of these two types:buyers and sellers can announce their bid or offer prices at any time,and deals are constantly being closed,a so-called"continuons double auction".
在另一個極端是荷蘭式拍賣，熟悉tulip-traders在17世紀(jì)荷蘭以及競購美國國債。這里，買家和賣家保持沉默，直到它接受降低其價格。大多數(shù)股票市場，期貨，外匯和衍生產(chǎn)品是一種混合的這些類型：買家賣方可以宣告其投標(biāo)或報價的價格在任何時間，并不斷被關(guān)閉，一個所謂的“連續(xù)雙向拍賣”。
Mr Cliff's 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 a balance price?The results were surprising.In his models,auctions that let buyers and sellers bid at any time like most of today's 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 today's real-world versions.Mr Cliff's 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.
克利夫的新思路就是將他的進(jìn)化的計算機(jī)程序市場自己。為什么不呢，他想，看看什么類型的拍賣會讓交易者收斂最快實現(xiàn)平衡的價格嗎？結(jié)果是令人驚訝的。在他的模型中，拍賣，讓買方和賣方出價，在任何時間最喜歡今天的金融交流少效率比那些需要比較多的出價從買家或者賣家。這些“拍賣”也經(jīng)受住了大市場的沖擊，比如崩盤和恐慌，比今天的現(xiàn)實世界版本?？死虻淖钚陆Y(jié)果，并將在悉尼，澳大利亞，十二月十日，表明，類型的拍賣市場在很大程度上取決于甚至略有不同數(shù)量的買家和賣家。
Bank of America has been investigating these new auctions,along with robotic traders,for possible use in electronic exchanges.The hope is that today's financial auctions and online marketplaces might work better by becoming more like their English and Dutch ancestors.
美國銀行一直在調(diào)查這些新的拍賣，隨著機(jī)器人交易員，可能使用電子交流。希望是今天的拍賣和網(wǎng)上市場可能會更好地工作變得越來越喜歡英語和荷蘭語的祖先。