Study On The Game Of All Stakeholders In The Circulation Of Collective Construction Land

In recent years, with the deepening of China's industrialization, urbanization and modernization, the land has become one of the most scarce resource. Especially for the construction land, which was traded as the foundation of life for living and working, the value is soaring while a large number of population immigrating to the cities. Being attracted by high rent, the collective construction land gradually appeared in the land transactions market as a new selection for enterprises from the 80's last century. At first, collective construction land can only be traded in the underground market because of its lack of legitimacy. However, the transfer of the collective construction land began to spread in the city, and has got permissions from the local government of some province in recent years. <The Rule of Collective Construction Land Transfer> has been introduced in Guangdong, Hebei and other provinces. During more practices, we gradually found that the transfer of the collective construction land plays a very good role in improving the villagers' income and solving the rural problems. Therefore, the Third Plenary Session of the 18 th CPC Central Committee has decided to make the collective construction land transfer legal.The legalization of collective construction land transfer, is a bottom-up policy change out of consideration of all parties involved in the game behavior. Therefore, while dealing with the action and position of the parties involved in collective construction land transfer, game theory is a suitable analytical tool. Before the Third Plenary Session of the 18 th CPC Central Committee, domestic scholars used to use the perspective of game theory in the study of collective construction land transfer to learn about the future path. This paper has chosen the perspective of game theory, to analyze and discuss the interaction and balance between the five parties of central government, local government, rural collective, enterprise and villagers after the legalization of collective construction land transfer.Firstly, according to the characteristics of the interests of all parties, the interests and preferences are discussed; and then, using static game and dynamic game with complete information, five game models, between the central government and local government, local government and rural collectives, local government and enterprise, rural collectives and the enterprise, rural collectives and villagers, were constructed to study the collective construction land transfer in all possible actions and future development. From the perspective of the interest groups, we can get the following conclusions:?the central government may relax the regulation in the collective construction land transfer, letting local government administrating;?local government will choose to block the transfer behavior, to protect the fiscal revenue;?Enterprises, rural collective and villagers group will be more involved in the transfer, in order to earn high returns. Finally, policy recommendations were gave for the future improvement of the transfer market according to the results of the games.