The purpose of this paper is to attempt the construct of a Centipede Game network model of investment in real estate market based on grey integration and forwards induction.
The investment process of decision making in the real estate market is a multi-agent-stage dynamic process. The behavior of the game are interdependent and the ultimated equilibrium is an outcome of every the game adjust themselves comprehensively in certain conditions. The paper constructs a Centipede Game network model of investment in real estate market based on grey integration and forwards induction, regulars the method framework based on grey integration and forwards induction.
The results verifies that the validity of Centipede Game network model by taking N's real estate market as an example.
Most of the existing real estate market game researches study it from the view of pairwise game or one-to-many game, in fact, the game tend to be developed in the form of a network. And the paper puts forward Centipede Game network model based on the mode of players game in real estate market.
The paper succeeds in providing a new and systematic framework of studying the real estate market game by using game theory.
The relevant researches done in this paper are supported by, the Key Project of Philosophy and Social Science Research in Colleges and Universities in Jiangsu Province (Nos: 2010JDXM014, 2010JDXM015, 2012JDXM003), Generalized Virtual Economic Research Funding Project (Nos: GX2010-1015(Y), GX2010-1003(Z), the Fundamental Research Funds for the Central Universities (Nos: NN2012038, NJ20120014, NJ20120011, NJ2011009, NR2011002, XNA12094, NJ20130021, NJ20130020), and also supported by the Educational Reform Project Of Higher Education of Jiangsu Providence in 2011 (No: 2011JSJG185).
Shui, L. (2014), "Centipede Game network model of investment in real estate market based on grey integration and forwards induction", Grey Systems: Theory and Application, Vol. 4 No. 2, pp. 321-327. https://doi.org/10.1108/GS-04-2014-0012Download as .RIS
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