Estimating Land Pricing Behavior of China’s Local Governments--A Conjecture Variation Approach
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| Title | Estimating Land Pricing Behavior of China’s Local Governments--A Conjecture Variation Approach
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| Author | LI Bing Chen Ting and Ma Sen |
| Organization | Hong Kong University of Science and Technology |
| Email | ukeice@gmail.com,colonct@gmail.com, mamori228@gmail.com |
| Key Words | Land Price; Housing Price; Local Governments; Monopoly |
| Abstract | This study estimated the land pricing behavior of China’s local governments by adopting Conjecture Variation (CV) approach. In general, the land pricing behavior parameters of China’s local governments lay in the zone between Cournot model and collusion (or monopoly) pricing. The distribution of behavior parameters showed heterogeneous the land pricing behavior of local governments. The most striking finding is that the prices are relative competitive in eastern and southern regions, where the land prices are higher, on the contrary, the prices are relative monopolistic in western and northern regions. Regional variation accounted for much more than time variation, which showed the consistent pattern of land pricing behavior of local governments. |
| Serial Number | WP305 |
| Time | 2012-07-13 |
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