Is it possible that human stockbrokers could, one day, be replaced with computer based agent traders
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چکیده
1. ABSTRACT In this paper I discuss the possibility of replacement of human traders in the world’s stock markets, to be replaced with computer based agents. During a recent trading test competition, carried out by Jeffrey Kephart at IBM's research centre in New York between humans and computer agents, it was found that the latter made on average five to seven percent more profit [Kephart et al.]. Taking in to account that in the second half of the financial year of 2000 a volume of $10.7 trillion [NASDAQ Background] was recorded on the NASDAQ stock market alone, it can be calculated that during this period markets lost profit of up to $0.75 billion by persisting with human decision makers.
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