Centipede Game network model of investment in real estate market based on grey integration and forwards induction

摘要

Purpose - 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. Design/methodology/approach - 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. Findings - The results verifies that the validity of Centipede Game network model by taking N's real estate market as an example. Practical implications - 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. Originality/value - The paper succeeds in providing a new and systematic framework of studying the real estate market game by using game theory.