Patriotism in America Is It Changing?

Wisniewski, Sharon L.

doi:10.21236/ada467796

Cited by 1 publication

(1 citation statement)

References 7 publications

(8 reference statements)

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“…The authors believe that the conventional methods of real estate market price analysis (multiple regression 2 , geographically weighted regression 3 , theory of rough sets 4 , artificial neural networks 5 , logit models 6 or the creation of real estate price indices 7 ) are very useful during the periods of stable market development, while during periods of instability such methods are insufficient. It means that defining and re-evaluating the meaning of periods of stable and unstable real estate market development and the quest for a new language for description and analysis that is adequate for such different phases of real estate market development constitutes a very important research question.…”

Section: Introductionmentioning

confidence: 99%

Modeling the Real Estate Prices in Olsztyn under Instability Conditions

Bełej¹,

Kulesza²

2012

Folia Oeconomica Stetinensia

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The paper deals with the description of the issues related to the dynamics of the real estate market in terms of sharp, unexpected changes in the housing prices which have been observed in the last decade in many European countries due to some macroeconomic circumstances. When such perturbations appear, the real estate market is said to be structurally unstable, since even a small variation in the control parameters might result in a large, structural change in the state of the whole system. The essential problem addressed in the paper is the need to define and discriminate between the intervals of stable and unstable real estate market development with special attention paid to the latter. The research aims at modeling hardly explored field of discontinuous changes in the real estate market in order to reveal the bifurcation edge. Assuming that the periods of sudden price changes reflect an intrinsic property of the real estate market, it is shown that the evolution path draws for most of the time a smooth curve onto the stability area of the equilibrium surface, and only briefly penetrates into the instability area to hop to another equilibrium state.

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Section: Introductionmentioning

confidence: 99%