Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors
This paper addresses the issue of the impact of the competitive behaviors of long-rental apartment firms on the rents of long-rental apartments and ordinary rental housing and introduces a dynamic gaming approach to the housing rental market domain to reveal changes in the long-term complexity of re...
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Discrete Dynamics in Nature and Society |
| Online Access: | http://dx.doi.org/10.1155/2021/8841184 |
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| author | Lingling Mu Xiangyu Qin Yaoyao Wang |
| author_facet | Lingling Mu Xiangyu Qin Yaoyao Wang |
| author_sort | Lingling Mu |
| collection | DOAJ |
| description | This paper addresses the issue of the impact of the competitive behaviors of long-rental apartment firms on the rents of long-rental apartments and ordinary rental housing and introduces a dynamic gaming approach to the housing rental market domain to reveal changes in the long-term complexity of rents of long-rental apartments and ordinary rental housing caused by the competitive behavior of long-rental apartment firms. Through numerical simulation, it is found that the adoption of smaller rent adjustment strategies by firms is important for maintaining system stability, while the changes in reference effect behavior of landlords and service quality and differences in demand share have moderating effects on system stability. The enhanced reference effect of landlords, the improvement of service quality, and the increase of the difference in demand share between the two long-rental apartments help to mitigate the disruption of system stability by the increase of the adjustment factor of the firms. The decentralized long-lease apartment firms, which occupy a higher proportion of the market, are able to exert a major impact on the rent of general rental housing by taking advantage of the market, while the difference in the demand share between the two firms is the main reason for the change in the rent of long-rental apartments. |
| format | Article |
| id | doaj-art-44457533936940469a6e369a827a7efb |
| institution | Kabale University |
| issn | 1026-0226 1607-887X |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Discrete Dynamics in Nature and Society |
| spelling | doaj-art-44457533936940469a6e369a827a7efb2025-02-03T06:05:16ZengWileyDiscrete Dynamics in Nature and Society1026-02261607-887X2021-01-01202110.1155/2021/88411848841184Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive BehaviorsLingling Mu0Xiangyu Qin1Yaoyao Wang2School of Economics and Management, Hebei University of Technology, Tianjin 300401, ChinaSchool of Economics and Management, Hebei University of Technology, Tianjin 300401, ChinaSchool of Economics and Management, Hebei University of Technology, Tianjin 300401, ChinaThis paper addresses the issue of the impact of the competitive behaviors of long-rental apartment firms on the rents of long-rental apartments and ordinary rental housing and introduces a dynamic gaming approach to the housing rental market domain to reveal changes in the long-term complexity of rents of long-rental apartments and ordinary rental housing caused by the competitive behavior of long-rental apartment firms. Through numerical simulation, it is found that the adoption of smaller rent adjustment strategies by firms is important for maintaining system stability, while the changes in reference effect behavior of landlords and service quality and differences in demand share have moderating effects on system stability. The enhanced reference effect of landlords, the improvement of service quality, and the increase of the difference in demand share between the two long-rental apartments help to mitigate the disruption of system stability by the increase of the adjustment factor of the firms. The decentralized long-lease apartment firms, which occupy a higher proportion of the market, are able to exert a major impact on the rent of general rental housing by taking advantage of the market, while the difference in the demand share between the two firms is the main reason for the change in the rent of long-rental apartments.http://dx.doi.org/10.1155/2021/8841184 |
| spellingShingle | Lingling Mu Xiangyu Qin Yaoyao Wang Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors Discrete Dynamics in Nature and Society |
| title | Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors |
| title_full | Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors |
| title_fullStr | Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors |
| title_full_unstemmed | Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors |
| title_short | Dynamic Analysis of the Rental Prices of Long-Rental Apartments and Ordinary Rental Housing Based on the Impact of Long-Rental Apartment Enterprises’ Competitive Behaviors |
| title_sort | dynamic analysis of the rental prices of long rental apartments and ordinary rental housing based on the impact of long rental apartment enterprises competitive behaviors |
| url | http://dx.doi.org/10.1155/2021/8841184 |
| work_keys_str_mv | AT linglingmu dynamicanalysisoftherentalpricesoflongrentalapartmentsandordinaryrentalhousingbasedontheimpactoflongrentalapartmententerprisescompetitivebehaviors AT xiangyuqin dynamicanalysisoftherentalpricesoflongrentalapartmentsandordinaryrentalhousingbasedontheimpactoflongrentalapartmententerprisescompetitivebehaviors AT yaoyaowang dynamicanalysisoftherentalpricesoflongrentalapartmentsandordinaryrentalhousingbasedontheimpactoflongrentalapartmententerprisescompetitivebehaviors |