Auction theory offers an argument that a secret reserve price is better.

拍卖理论提出一种看法，认为保留价格保密更好。

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Their conclusion, contrary to the theoretic argument, is that secret reserve prices are counterproductive.

他们的结论与这种理论观点截然相反：保密的保留价达不到预期目的。

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Far from stimulating interest they seem to put off bidders, who perhaps fear that a secret reserve is secret because it is far too high.

它们不是激发出价方的兴趣，反而似乎是让他们退却，这也许是因为他们担心，保留价之所以保密，是因为它高得离谱。

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Many of the names of the investment funds participating in TALF have remained a big secret, but the Federal Reserve is required under new financial reform legislation to disclose all of their identities later this year.

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Now, according to recently released documents from the Federal Reserve documents the banks wanted desperately to keep secret and obtained only after years of litigation we have learned that virtually every major bank borrowed tens of billions of dollars from the Fed to stay afloat in 2008 and 2009.

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Better to put cheap software-defined radios in the hands of penetration testers who can demonstrate the insecurity of those communications than to reserve the technology only for better-funded attackers who would exploit the same wireless communications in secret.

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