A SIMPLE MODEL FOR SPECULATIVE BUBBLE IN TEHRAN HOUSING MARKET

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MOROVAT H.; BAHRAMI J.

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Journal: Journal of Economic Modelling Year:2013 | Volume:7 | Issue:1 (21) Page(s): 51-68

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Information Journal Paper

Title

A SIMPLE MODEL FOR SPECULATIVE BUBBLE IN TEHRAN HOUSING MARKET

Author(s)

MOROVAT H. | BAHRAMI J. | Issue Writer Certificate

Keywords

SPECULATIONQ2

HETEROGENEOUS EXPECTATIONSQ2

TEHRAN HOUSING MARKETQ2

Abstract

In this paper, a simple model of a speculative housing market will be developed in which the demand for houses is influenced by expectations about future housing prices. Agents rely on extrapolative and regressive forecasting rules to form their expectations. The relative importance of these competing views evolves over time, subject to market circumstances. It will be represented that the relative price elasticity of the demand of different views has important role in making speculative bubbles of TEHRAN HOUSING MARKET. The results indicate that the weight of agents by extrapolative demand (chartists) is more than 90% during last two decades.

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APA: Copy

MOROVAT, H., & BAHRAMI, J.. (2013). A SIMPLE MODEL FOR SPECULATIVE BUBBLE IN TEHRAN HOUSING MARKET. ECONOMIC MODELLING, 7(1 (21)), 51-68. SID. https://sid.ir/paper/176192/en

Vancouver: Copy

MOROVAT H., BAHRAMI J.. A SIMPLE MODEL FOR SPECULATIVE BUBBLE IN TEHRAN HOUSING MARKET. ECONOMIC MODELLING[Internet]. 2013;7(1 (21)):51-68. Available from: https://sid.ir/paper/176192/en

IEEE: Copy

H. MOROVAT, and J. BAHRAMI, “A SIMPLE MODEL FOR SPECULATIVE BUBBLE IN TEHRAN HOUSING MARKET,” ECONOMIC MODELLING, vol. 7, no. 1 (21), pp. 51–68, 2013, [Online]. Available: https://sid.ir/paper/176192/en

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