Mathematical and computational modeling of housing market dynamics

Housing market dynamics and modeling of housing market evolution in Lugano (southern part of Switzerland) is the main goal of this work. An agent-based modeling has been used to model the individual behavior and decision-making process of people in the market. In fact this model is a representation of the decision making processes of humans in housing market. Every agent is identified through his position, time interval he exists in the system, his individual and social properties and his behavior. Different features make different mentalities in different agents to process uncertain information they gain from environment and the other agents to make two different types of events, i.e., supplies and demands. The model tries to forecast and analyze the dynamics of housing market in Lugano by modeling behavior of individuals who are living in this city and constructing the model on the interdependency of these behaviors and the information that flows in the system. In this paper the modeling approach we have used and the conceptual framework of the model will be presented.