And we're going to come back to that

以后我们会接着讲它
because that view of the gyrations of the market

因为通过过度借款和投机
being caused by too much borrowing and speculation

所造成市场循环周期
is exactly the view that I'm going to take in explaining the most recent crisis.

正是我要用来解释最近的危机的观点
So anyway, you remember what we did in our experiment.

不管怎样你记得我们在试验中所做的
We had eight buyers whose reservation prices are those eight numbers up there.

我们八个买家的底价就是那八个数字
That's what each person thought it was worth to him.

这就是每个人所认为的货物对他们的价值
Each person knew his own price,

每个人都知道自己的底价
but not any of the others.

而不知道其他人的底价
I told you almost nothing about what was going on.

对于正在发生什么我几乎什么都没说
There was some context.

有一些背景提示
They give an example of a person who thought worth of fifteen.

给出了一个认为值十五的人的例子