答案就是，你要把“流动性偏好”，也就是对现金的需求和供给加入考虑。
The answer is that you need to add "liquidity preference", the supply and demand for money.
在其他情况下，并不存在总是最优的市场结构，在不同的市场设计和市场状态下，流动性需求者偏好于某一市场。
Apart from that, there exists no optimal market structure at all time. To different market designs and different market status, liquidity demanders prefer to one market among them.
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