A game theory approach to the analysis of land and property development processes

Samsura, D. Ary A.; Krabben, Erwin van der; Deemen, A.M.A. van

doi:10.1016/j.landusepol.2009.07.012

Cited by 90 publications

(69 citation statements)

References 29 publications

(28 reference statements)

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“…However, suggested by Samsura et al (2010), the land and property development modeling is actually supported by a review of analytical tools by Ball (1998) which considers game theory as a promising methodology in this field of study. In some practices like economics, it is greatly accepted to interpret the real situation into theoretical model (Samsura et al, 2010). The game theoretical modeling certainly simplifies and abstracts the real housing market in Hong Kong.…”

Section: Resultsmentioning

confidence: 99%

Why housing price in Hong Kong? An explanation in game theory approach

Yue

Leung²,

Fung³

2012

Econom. bus. letters

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In most studies about housing price, the price is related to factors such as housing supply and demand, interest rate and money supply. A complete competition between suppliers and demanders in the housing market is assumed in most studies. However, when the land supplier is monopoly and the number of land demanders is very limited, the assumption may be violated. Thus, a different theoretical approach is proposed to tackle the problem. In this paper, a game theory approach is used to explain the housing price in Hong Kong. Two main findings are found. Firstly, using public auction for land selling in an oligopolistic housing market would lead to a high housing price which government is hard to adjust. Secondly, enforcing windfall tax is an effective method to lower the housing price while maximizing government income at the same time.

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Section: Resultsmentioning

confidence: 99%

Why housing price in Hong Kong? An explanation in game theory approach

Yue

Leung²,

Fung³

2012

Econom. bus. letters

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“…During the period of simultaneous development between the outer edge areas and urban centers, those surrounding regions become new layers that show no longer a traditional sense of the suburbs. Land and property development processes obviously can be seen as a social situation and have proposed the measurement of a development site's ecological performance (Samsura et al 2010;Ferguson and Friday 1983;André 2000). The evolution of suburban and urban spatial structure is related to the stage of development.…”

Section: Introductionmentioning

confidence: 99%

A Quantification Analysis of Suburb Land Use and Construction Intensity Based on Afar

Shi

Zhao

Zheng

et al. 2013

LTI

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China is facing an increasing urbanization in the edge area surrounding main metropolises. This paper targets at analyzing the construction mechanism of land use planning near suburban college towns. Theories and methods such as typical case analysis, mathematical model, and space capacity analysis were used to quantify the mechanism. A typical suburban block, Zijingang Campus Town of Zhejiang University was taken as the case. Since the key index (floor area ratio) indicates the construction intension of a patch of land, it is necessary to examine its appropriate range. The analysis result shows that there are differences in architectural prosperity and urban function by means of several designs. According to the guidelines of urban master planning and urban detailed plan, the Appropriate Floor Area Ratio (AFAR) calculated and deduced based on Economic Floor Area Ratio (EFAR) and Max/Min Floor Area Ratio (MFAR) can be useful in ratifying land development intensity, predicting future tend and evaluating city planning projects.

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“…Game theory has been used by a small number of researchers to model negotiation processes in property development (Glumac et al, 2015;Rabin, 1993;Samsura et al, 2010). Game theorists approach decision-making as an interactional process.…”

Section: Game Theorymentioning

confidence: 99%

“…Players can have conflicting or supplementing interests and therefore anticipate each other's expected decisions and strategies before making their own decisions (Colman, 2005;Glumac et al, 2011;Samsura et al, 2010). Game theory is used both in a normative manner, i.e.…”

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confidence: 99%

“…They state that contradictions and inconsistencies in land acquisition legislation are the main cause of land acquisition conflicts in China. Samsura et al (2010) applied game theory to a case of greenfield residential development and concluded that game theory can be a useful decision support tool in planning to structure and simplify complex decisions within planning processes. However, they also find that game theory has various limitations including the deficiency to draw conclusions from the outcomes of a model as long as the model's assumptions are not grounded in empirical data.…”

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confidence: 99%

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Dealing with private property for public purposes : an interdisciplinary study of land transactions from a micro-scale perspective

Holtslag-Broekhof¹

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A game theory approach to the analysis of land and property development processes

Cited by 90 publications

References 29 publications

Why housing price in Hong Kong? An explanation in game theory approach

Why housing price in Hong Kong? An explanation in game theory approach

A Quantification Analysis of Suburb Land Use and Construction Intensity Based on Afar

Dealing with private property for public purposes : an interdisciplinary study of land transactions from a micro-scale perspective

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