Game Research On The Real Estate Market

As one of China's pillar industries—the real estate developed fast, there are still some deep-seated problems, such as rent-seeking phenomenon, the low efficiency use of land resource on the first level of the real estate market, and the structural surplus of supply, the lack of the low-grade housing, the insufficiency of consumers effective demand, the coexistence of three highness (high land price, high housing price and high vacancy rate) etc. on the second level of the real estate market, such an imbalance situation has bad effect on the development of real estate industry.This article is based on the latest research results in the domestic and foreign, taking our country actual economy as well as the situation of real estate market as the background, in the prospective of macroscopic and microscopic, to research the game behavior of prime participant in real estate market. The article build bi-game and tri-game system to analyze the problems according to the behaviors and objects of participant, including central government, local government, real estate developers, real estate speculators and investors and the consumers pursuing for own living house on the first and second level of the real estate market. By using game theory to analyze the game among economic embody, search the formation mechanism of the real estate price, find out the root causes of disorder on the real estate market and provide certain policy-making reference for government, developers and consumers. At last, the article brings forward some exercisable suggestions such as rearrange the monitoring system, strengthen the macro-regulation of the land market and speculative buyers, adjust the central and local powers and the distribution of financial authority and the housing supply structure to perfect the system of real estate market.