Author(s)

Chuxing You

Corresponding Author

Chuxing You

ABSTRACT

The bid-auction-listing system is the primary transfer mode of land usage right in China. This is a landmark in the development of land transfer, improving land utilization efficiency. However, in its practical operation, there are still some drawbacks to be resolved, such as collusion and leading sky-high land price, which severely undermines land market fairness and national asset. A reasonable land transfer system to protect the fair supply of urban land and promote land-use efficiency relates to the development of the urbanization process in China and the improvement of people’s living standards. Therefore, how to manage the bid-auction-listing system in a scientific way has become an issue for the whole society. This paper summarizes the historical developing process of the land transfer modes and lists the basic modes of land transfer, utilize mathematical methods, game theory, auction theory, and research literature to analyze the optimal strategies of enterprises under different bidding rules, thus helping to discuss the game between the government and real estate developers under the bid-auction-listing system, and finally put forward suggestions to optimize the bid-auction-listing system.

KEYWORDS

Game theory, bid-auction-listing system, real estate, economics, land resource