Heterogeneous Demand, Government Intervention and Housing Price: Chaos Analysis Perspective
Qian Sun 1 2, Jichang Dong 3 * , Yong Tang 1 4
More Detail
1 Management School of Hunan City University, Yiyang, Hunan, CHINA2 Department of Technology and Society, State University of New York at Stony Brook, Stony Brook, NY, USA3 School of Innovation and Entrepreneurship, University of Chinese Academy of Sciences, Beijing, CHINA4 Department of Sociology, State University of New York College at Buffalo, Buffalo, NY, USA* Corresponding Author

This article belongs to the special issue "Problems of Application Analysis in Knowledge Management and Science-Mathematics-Education".

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.

License

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Article Type: Research Article

EURASIA J Math Sci Tech Ed, 2017, Volume 13, Issue 12, 8177-8184

https://doi.org/10.12973/ejmste/77952

Publication date: 24 Nov 2017

Article Views: 1267

Article Downloads: 493

Open Access References How to cite this article