The bursting of housing bubble as jamming phase transition

Katsuhiro Nishinari, Mitsuru Iwamura, Yukiko Umeno Saito, Tsutomu Watanabe

Research output: Contribution to journalArticle

3 Citations (Scopus)

Abstract

In this paper, we have proposed a bubble burst model by focusing on transaction volume incorporating a traffic model that represents spontaneous traffic jam. We find that the phenomenon of bubble burst shares many similar properties with traffic jam formation on highway by comparing data taken from the U.S. housing market. Our result suggests that transaction volume could be a driving force of bursting phenomenon.

Original languageEnglish
Article number012006
JournalJournal of Physics: Conference Series
Volume221
DOIs
Publication statusPublished - 2010 Jan 1

ASJC Scopus subject areas

  • Physics and Astronomy(all)

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