• Economics
  • Published 1999

A System Dynamics Model of Cyclical Office Oversupply

@inproceedings{Kummerow1999ASD,
  title={A System Dynamics Model of Cyclical Office Oversupply},
  author={Max Kummerow},
  year={1999}
}
This article explores office market system dynamics through a simple simulation model. Model lag and adjustment parameters similar to real office markets generate explosive cycles. Simulations show that deviations from equilibrium can be reduced by changing the information structure of the system. System dynamics, principle/agent conflicts, a prisoners’ dilemma game, faulty information (poor forecasting, market research and valuation techniques), regulatory institutions, and differing… CONTINUE READING

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