摘要

Purpose - The purpose of this paper is to propose a grey linear control system for regulating the price of China's real estate and provide the necessary support to assist the relevant management departments with their policy making. @@@ Design/methodology/approach - A grey state equation of the real estate market price that can reflect both the market supply-demand price mechanism and the production price mechanism is proposed based on the economic cybernetics. Also, the grey control linear theory is used to demonstrate the disequilibrium fluctuation control system for the China's real estate market with uncertain parameters. @@@ Findings - The price disequilibrium fluctuation control system for China's real estate market has been in a critical state. The system would reach a balanced state in 2013, if the real estate price in 2010 and 2011 firstly decreased 244.41 yuan/m2 and 62.33 yuan/m2, respectively, and then increased 60.88 yuan/m2 in 2012. The disequilibrium state will continue for years before it reaches a balanced state. @@@ Research limitations/implications - Due to the complexity of operation of grey numbers, the present technique still cannot analyze the properties of the grey control system exactly and further research is needed. @@@ Practical implications - The modelled results can help the relevant management departments steady China's real estate market by price regulation. @@@ Originality/value - A new approach to study the price regulation system of a real estate market is proposed based on grey linear control theory.