A 3-dimensional discrete model of housing price and its inherent complexity analysis |
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Authors: | Lingling Mu Junhai Ma Liwen Chen |
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Institution: | (1) School of Management, Hebei University of Technology, Tianjin, 300130, China;(2) School of Management, Tianjin University, Tianjin, 300072, China |
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Abstract: | A discrete nonlinear model of real estate is derived, with which the evolutionary trend among government, consumers and real
estate developers is described. The stability, bifurcation, and chaotic behavior of the system are also analyzed by using
nonlinear dynamic method. Results show that chaos can be obtained via quasi-periodic transition and double-periodic bifurcation.
The influence of dynamic evolutionary trend among stakeholder on system stability is also studied and some interesting conclusions
are derived. This research can effectively explain the complex behavior of housing prices.
This research is supported by the National Natural Science Foundation of China under Grant Nos. 60641006 and 70872029. |
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Keywords: | Bifurcation chaos discrete dynamical system housing price |
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