Studying On Real Estate Market By Game Theory

In these tens of years, the development of real estate market has great contributions on our country with the rapid development of domestic economy, and the real estate market has attracted many attentions from almost all aspects of the society. Under the background, this thesis concentrates on the first level and the second level of real estate market in our nation, and the governments, developers, consumers in the markets as my research objects. On the second level of real estate market, I have made systematic analysis on supply, demand and price, and also added the game theory to the study about price formation, demand and supply of real estate. By studying the mutual relationships of the three market objects, I try to build up some competitive models of game theory and disclose a new way to study the real estate market.On the first level of real estate market, the main competitors are central government, local governments and the real estate development enterprises. This thesis points out the problems existing in the aspects of bidding, auction and putting up the brands, and the balance terms by studying the conditions of the two competitors.When studying the game theory of the second level of the real estate market, I have adopted the research methods of western microeconomics. From supply, demand and price three points of view, I analyze the situations of game among the three objects and the balance conditions respectively. In the aspect of demand and supply, I have analyzed that the city planning has the influence on the housing demand and supply by the game between the government and the developers;I have analyzed that the mutual decisions can have great impacts on the demand and supply by the game between the developers;I have also disclosed that the real estate policies made by the governments have the oriented effects on supply and demand by the games among government, developers and consumers. In the aspect of price, I have discussed the process of housing price's formation and adjustment by the game between the developers and consumers;and I have found that making different strategies are the inevitable choices for the developers by the game between the developers.This thesis uses the useful conclusions of the game theory, on the basis of western economy's typical market research methods and means, realizing the subjective and objective combination, and the qualitative and quantitative combination.