Behavioural heterogeneity in the housing market : a comparison between Singapore and Hong Kong

• Main Author: Or, Eugene
• Other Authors: Chia Wai Mun
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2021
• Subjects: Social sciences::Economic theory
• Online Access: https://hdl.handle.net/10356/148339
• Institution: Nanyang Technological University

Unlike the Benchmark Rational Expectations Model (BRM), the Heterogeneous Agent Model (HAM) recognises that the assumption of market players having full rationality is often unrealistic. Instead, it claims that players have heterogeneous behaviours and bounded rationality. Over the years, HAM has be...