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QUALITATIVE MODELS FOR ANALYSING HOUSING MARKET DYNAMICS
Author(s) -
Montagnana Manfredo,
Prizzon Franco,
Zorzi Ferruccio
Publication year - 1990
Publication title -
papers in regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.937
H-Index - 64
eISSN - 1435-5957
pISSN - 1056-8190
DOI - 10.1111/j.1435-5597.1990.tb01209.x
Subject(s) - catastrophe theory , cusp (singularity) , aggregate (composite) , dynamics (music) , variable (mathematics) , econometrics , economics , qualitative analysis , mathematical economics , aggregate data , qualitative research , mathematics , sociology , engineering , statistics , geometry , mathematical analysis , geotechnical engineering , social science , pedagogy , materials science , composite material
The paper examines housing market dynamics by means of qualitative models chosen from the elementary catastrophes listed in Thorn's Classification Theorem. The first model refers to the cusp catastrophe and hence contains cine state variable and two parameters; the second, the butterfly catastrophe, consists of one stale variable and four parameters. We present an empirical application of the model using aggregate data for Turin.