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Game Analysis of Behavior between Central and Local Government under Housing Price Control Policy

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DOI: 10.4236/me.2014.512105    3,097 Downloads   3,536 Views   Citations
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ABSTRACT

In recent years, the rapid growing housing prices and the continuing expanding real estate bubbles have become a hidden danger to the Chinese economy. Price regulation has also become one of the current hot issues. Though the central government issued a number of decrees, the price has been increasing, especially in first-tier cities, like Beijing, Shanghai, Guangzhou, and Shenzhen. What factors contributed to the high prices? The central and local governments play an important role in housing price regulation. From the perspective of game theory, behavior of central and local government under price control policies are described and analyzed in this article. We established a game model and got equilibrium between the two games. In the end, we raised some reasonable policy recommendations by the results of game analysis.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

Yang, H. (2014) Game Analysis of Behavior between Central and Local Government under Housing Price Control Policy. Modern Economy, 5, 1132-1137. doi: 10.4236/me.2014.512105.

References

[1] Zuo, F. (2007) Game Analysis of the Central Government and Local Governments in the Field of Macro-Control. Journal of Central University of Finance and Economics, 7, 5-9.
[2] Yu, J.Y. (2009) Game Analysis in Price Regulation of the Central Government and Local Governments. Economist, 2, 263-264.
[3] Li, R. (2009) Selection of the Real Estate Market Regulation Policy—Dynamic Game Model of the Central Government and Local Governments. Economic Research Guide, 1, 29-31.
[4] Jiang, H.C. (2012) Price regulation Game Theory—Based on Dynamic Game Central Government and Local Governments. Journal of Changchun University of Technology, 2, 36-37.
[5] Zhang, W.C. (2008) China’s Economic System. Arcadia Publishing Ltd., Hong Kong.

  
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