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SPECIAL ISSUE PAPER
Heterogeneous Demand, Government Intervention and Housing Price: Chaos Analysis Perspective
1
Management School of Hunan City University, Yiyang, Hunan, CHINA
2
Department of Technology and Society, State University of New York at Stony Brook, Stony Brook, NY, USA
3
School of Innovation and Entrepreneurship, University of Chinese Academy of Sciences, Beijing, CHINA
4
Department of Sociology, State University of New York College at Buffalo, Buffalo, NY, USA
Online publication date: 2017-11-24
Publication date: 2017-11-24
EURASIA J. Math., Sci Tech. Ed 2017;13(12):8177-8184
KEYWORDS
TOPICS
ABSTRACT
Started from the microbodies of real estate market, this paper supposed real estate price is mainly determined by the bodies’ market behaviors and related interactions, while the demanders in real estate market are heterogeneous. and local government and central government are with different purposes in regulating the market. For these considerations above, this paper constructed a real estate price deterministic model, and conducted a numeric simulation. The main findings include: the price fluctuation of real estate market has chaotic characteristics, and the systematic parameters have a comparatively big effect on market equilibrium. The sensitivity that both consumption demanders and real estate developers have on real estate price is positively correlated to real estate market equilibrium. In the long term, the price of real estate market will be approaching to its actual value.
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| eISSN: | 1305-8223 |
| ISSN: | 1305-8215 |
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