题目内容
9.Computerised trading agents may help humans build better marketsTHANKS to declining markets,investment banks are getting rid of many of their highly-paid traders.When markets recover,the banks might be tempted to replace them with rather cheaper talent.One alternative has been around for a while but has yet to catch on:autonomous trading agents-computers programmed to act like the human version without such annoying costs as holidays,lunch breaks or bonuses.Program trading has,of course,been done before; some blamed the 1987stock market crash on computers instructed with simple decision-making rules.But robots can be smarter than that.
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 research group at IBM showed that Mr Cliff's artificial traders could consistently beat the human variety,in various kinds of market.Nearly all take the shape of an auction(拍卖).One well-known type is the English auction,familiar to customers of the salesrooms(拍卖场)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.
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"continuous double auction".
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(趋同) 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.
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.
67.What is the passage mainly about?B
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.
68.Which of the following is true according to the text?C
A.Mr Cliff's robot traders have now been used in real-world markets.
B.Robot traders can evolve like creatures.
C.There is room for improvement in efficiency in trading markets.
D.The English auction is the most popular trading form.
69.What can we infer from the text?B
A.Existing auctions cannot withstand market shocks
B.The Dutch auction is better than the continuous double auction
C.It's hard for traders to reach a balanced price
D.The best type of auction takes place when the number of the buyers is equal to that of sellers
70.What's the author's attitude toward robot traders?D
A.Prejudiced B.Objective
C.Critical D.Optimistic.
分析 本文是一篇科教类阅读,主要介绍了有可能帮助人类更好地建立市场的交易机器人(电脑交易).
解答 67-70.BCBD
67题答案:B考查主旨大意,本文主要介绍了有可能帮助人类更好地建立市场的交易机器人,故本题答案为B选项.
68题答案:C考查细节推理,根据最后一段的The hope is that today's financial auctions and online marketplaces might work better by becoming more like their English and Dutch ancestors.希望是现在的金融拍卖(包括机器人交易)和在线市场能够像他们英国的和荷兰的祖先那样更好地工作.可知本题答案为C选项"交易市场的效率提升还有空间".
69题答案:B考查细节推理,根据原文第五段的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.在他的模型中,让买家和买家像现在的金融交易一样任意时候出价的拍卖(英国式的拍卖是卖方不动而买方一直加价,直到剩下最后一名买家)没有要求相对一方(买家或买家)出价次数更多的拍卖(荷兰式的拍卖是买家和卖家在任何时候都可以报出自己的要价和出价)效率高.可知本题答案为B选项.
70题答案:D考查细节推理,根据文章第一段Computerised trading agents may help humans build better markets.电脑交易代理(机器人交易)有可能帮助人类建立更好的市场.可知本题答案为D选项.
点评 本文是一篇科教类阅读,题目涉及多道细节理解题,做题时结合原文和题目有针对 性找出相关语句进行仔细分析,结合选项选出正确答案.推理判断也是要在抓住关键句子的基础上合理的分析才能得出正确的答案.
A. | left out | B. | cut out | C. | dried out | D. | tested out. |
Why is this enormous increase in population (41)D?It is really due to the spread of the knowledge and the (42)B of what is coming to be called Death Control.You have heard of Birth Control?Death Control is (43)A rather different.Death Control (44)B the work of the doctors and nurses and the hospitals and the health(45)D in keeping alive people who,a few years ago,would have died of some of the (46)C serious killing diseases,(47)A they used to be.
Squalid conditions,which we can correct by an improved (48)D of living,caused a lot of diseases and dirt.Medical examinations at school (49)D diseases early and ensure healthier school(50)C.Scientists are at work stamping out malaria and other more deadly diseases.If you are seriously ill there is a ( an ) (51)B to take you to a modern hospital.Medical care helps to keep people alive longer.We used to think seventy is a (52)A age; now eighty,ninety,it may be,are coming to be considered as a normal age for human beings.People are living longer because of this Death Control,and fewer children are dying,so the population of the world is (53)C.
However,this enormous increase of population will create immense problems.By the year of 2050,unless something desperate happens,there will be as(54)D as 7,500,000,000people on the surface of this earth!How to(55)Asuch a large number of people?This is the greatest problem which (56)Cus.
A lot of things are going to happen in the next fifty years.It is very important to increase the (57)C of grain plants and(58)B has happened through the work of the geneticists in the last few years.For instance,there has been an enormous world increase in the production of (59)D Americans call corn (maize to us) owing to the development of new grains.And (60)D agriculture geneticists are working hard to get more food.
41.A.taking up | B.taking off | C.taking on | D.taking place |
42.A.experience | B.practice | C.understanding | D.awareness |
43.A.something | B.everything | C.nothing | D.anything |
44.A.knows | B.recognizes | C.approves | D.dismisses |
45.A.diets | B.examinations | C.activities | D.services |
46.A.probably | B.slightly | C.incredibly | D.deeply |
47.A.as | B.when | C.since | D.because |
48.A.interest | B.strength | C.belief | D.standard |
49.A.take | B.make | C.ignore | D.catch |
50.A.cooks | B.principals | C.children | D.parents |
51.A.car | B.ambulance | C.taxi | D.school bus |
52.A.good | B.bad | C.smart | D.foolish |
53.A.cheering up | B.growing up | C.shooting up | D.getting up |
54.A.much | B.few | C.little | D.many |
55.A.feed | B.educate | C.train | D.increase |
56.A.frees | B.forces | C.faces | D.finds |
57.A.number | B.quality | C.yield | D.taste |
58.A.a great many | B.a great deal | C.a sum | D.a majority |
59.A.that | B.which | C.how | D.what |
60.A.about | B.with | C.towards | D.throughout |