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we ran this experiment and we found very
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interesting results that in some cases
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and we identifi those cases they
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Converge on collusive Behavior so you
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know what you would like as traders in
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financial markets not to collude when
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they get information they just trade on
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the information the information
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immediately shows up in the price and
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then the system is very efficient a
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collusive behavior is they get the
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information but they don't trade so
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quickly on it because they realize that
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there is bigger long-term gain if
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they're not trading very aggressively
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there are all sorts of theories about
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when humans will collude and so on what
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is interesting is these very basic
00:00:37
algorithms that I just described to you
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end up in what looks like a collusive
00:00:41
behavior where they just don't trade
00:00:44
very aggressively and they end up with
00:00:45
higher profits in the long run as a
00:00:47
result
