Title :
Complex Networks Model for Residential Real Estate Markets
Author :
Liu, Dan ; Yang, Deli ; Liu, Jianguo
Author_Institution :
Manage. Sch., Dalian Univ. of Technol., Dalian
Abstract :
To meet the challenges of the complexity of residential real estate markets and a dearth of large databases, we built a theoretical super-complex networks model, focusing on the statistical mechanics of network topology and dynamics. Nodes correspond to agents in the market (banks, house producers and house buyers). The directed edge represents the positive cash flow caused by any transaction between two agents. Power-law distributions consistent with Zipf´s law characterize firm size and individual wealth. The probability function of a firm´s death is given by a Pareto distribution. New links emerge by nodes reconnecting according to a preferential rule. We also simulated an evolving network in the Shanghai residential market during 2001-2005.
Keywords :
Pareto distribution; network theory (graphs); probability; property market; statistical mechanics; topology; Pareto distribution; Shanghai residential market; Zipf´s law; complex networks model; network topology; power-law distributions; probability function; residential real estate markets; statistical mechanics; Complex networks; Data analysis; Finance; Fluctuations; Network theory (graphs); Network topology; Pareto analysis; Probability; Technology management; Transaction databases;
Conference_Titel :
Wireless Communications, Networking and Mobile Computing, 2007. WiCom 2007. International Conference on
Conference_Location :
Shanghai
Print_ISBN :
978-1-4244-1311-9
DOI :
10.1109/WICOM.2007.1406
