Research on the Relative Importance of Stakeholders' Behaviors to Residential Land Value Increment Based on Nested-Shapley Value Decomposition
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Zhen-hua WU, Qin-ping YU, Ya-bei WANG and Qinguo BAI
This paper took the central government, local government, developers, home buyers and financial institutions as the research objects, and used the regression analysis and the dominance analysis method based on Nested-Shapley value decomposition to study the influence of the stakeholders’ behaviors on the residential land value increment and the relative importance of the stakeholders’ behaviors. The results indicated that: First, in the same region, the relative importance of the behaviors of different stakeholder to the residential land value increment is quite different; Second, in different regions, the relative importance of the behaviors of the same stakeholder to the residential land value increment are also different; Third, among the stakeholders’ behaviors, the influence of developers’ land purchase behaviors and construction behaviors on the residential land value increment is significant, stable and relatively important; Fourth, the difference of land value natural increment caused by regional inherent factors is more significant. The difference is the largest in west cities, followed by central cities, and smallest in the east cities.
Real Estate Primary and Secondary Market, Stakeholders’ Behaviors, Land Value Increment, Nested-Shapley Decomposition, Dominance Analysis