Impacts of land supply planning on local government land supply behaviour: An analysis based on prospect theory
WU Shuping1,2, YANG Zan1,2
1. Hang Lung Center for Real Estate Studies, Tsinghua University, Beijing 100084, China; 2. Department of Construction Management, Tsinghua University, Beijing 100084, China
Abstract：The land supply significantly impact economic and social development. China supplies state-owned land under an administrative plan whose effectiveness determines the land resource allocation efficiency. Prospect theory is used here to investigate a local government's residential land supply behavior for one representative administrative plan from 2010 to 2013 based on panel data from provincial and prefecture level cities in China. The results illustrate the reference dependence and diminishing sensitivity of a local government's residential land supply behavior and indicate that a residential land supply administrative plan will not be efficient if the objective is set too high.
吴淑萍, 杨赞. 土地供应计划对地方政府土地供应决策的影响:基于前景理论的分析[J]. 清华大学学报（自然科学版）, 2018, 58(9): 849-857.
WU Shuping, YANG Zan. Impacts of land supply planning on local government land supply behaviour: An analysis based on prospect theory. Journal of Tsinghua University(Science and Technology), 2018, 58(9): 849-857.
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2018, Vol. 58 
