Abstract
The investment process of decision-making in the economical system is a multi-agent-stage dynamic process, and bubble is generated, until it burst in the game among various economic entities. The paper constructs a Centipede Game network model of investment equilibrium-adjusted based on grey integration and forwards induction, and regulars the method framework based on grey integration and forwards induction; analyzing the formation mechanism of the bubble and invoking the concept system of Centipede Game network model, the paper divides the bubbles to integral bubble, structural bubble and frictional bubble according to the characteristics of bubble generation process; and verifies the validity of the model by taking Nanjing's real estate market as an example.
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