Algorithms on Wall Street and in the Rest of Our Lives

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Knight Capital is a so-called "market maker," using high-speed computers to keep Wall Street fair and orderly. Last week it created chaos instead. It's the latest in a series of computer malfunctions that are giving some investors the jitters by trading stocks faster than the human brain can function. Have the benefits of fast trading reached their limits?  What's the role of computer algorithms in other parts of our lives? You may be surprised.

Credits

Guests:
Felix Salmon - Host of the Slate Money podcast, WIRED - @felixsalmon, Chris Steiner - author - @SteinerWriter , Terrance Odean - University of California, Berkeley

Host:
Warren Olney

Producers:
Caitlin Shamberg, Christian Bordal, Sonya Geis, Daniel Rothberg