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Re:The stock market is controlled by algorithms that are fig... by dpapathanasiou on Thursday May 12, 2011 @05:27PM (#2542393)
There's been a lot of academic research on call auctions (e.g. http://www.springer.com/business+%26+management/finance/book...) which are somewhat similar what you describe in terms of their effects on price stability (though pricing happens differently), but they've not been successful in practice.

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