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A 3-dimensional discrete model of housing price and its inherent complexity analysis. (English) Zbl 1193.93067
Summary: 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 the nonlinear dynamic method. Results show that chaos can be obtained via quasi-periodic transition and double-periodic bifurcation. The influence of dynamic evolutionary trend on system stability is also studied and some interesting conclusions are derived. This research can effectively explain the complex behavior of housing prices.
MSC:
93A30Mathematical modelling of systems
93C10Nonlinear control systems
91B74Models of real-world systems in economics
93C55Discrete-time control systems
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