The Game Analysis On Conduct Of Parties In The Real Estate Market

Although the present world economy is still at a low stage owing to the debt crisis in Europe , the Chinese economy is still thriving and high growth due to the contribution of real estate market. since the late 90's,our country launched a massive building boom in real estate as real estate marketizing and urban residents significantly improved their living conditions.But house prices grew too fast and the price earnings ratio was high at 10 or more because of hot money inflowing.In this case, the government promulgated a series of control measures to curb the excessive growth of house prices. As the real estate industry is important in Chinese economics,how to seize real estate business and coordinate the relationship between ordinary people the interests of all parties, is a question worthy of pondering and study.As the researching of historical data and study of game theory,I want to explain some important phenomena in the real estate market such as the behavior of ordinary people and other participants and provide other real estate market researchers some methods and ideas. The following work is main to complete:1. Analyze the behavior of Real estate developers'strategy and establish a static game model to analyze their strategies and explain the reason why they use these strategies.And give a result that the game between real estate developers is a game of the size between them.2. Analyze the behavior between the real estate developers and consumers by using the game theroy.Establish an incomplete information static game model to explain under what conditions the real estate developers will take price cut strategy.3. Use the game theory to analyze the behavior between the government and consumers.Establish a sequential game model to analyze what strategy the government will choose and how to change the mechanism design in order to achieve the Government's social objectives.4. Analyze the game behavior between the government and the real estate developers by establishing a infinite repeated game model.The model tells us that the government was possible to take no policy strategy if the government takes the developes'income as their own and the developers would choose a no sale strategy.Explore by what mechanism design the developers will choose the strategy of sale if they have house to sale.5. Establish a static game model between the government ,real estate developers and home buyers and analyze what strategy the government will take if it take the income summation between the real estate developers and consumers as its own income.And discuss the possibility of alliance between the three participants by using the cooperative game theory.