Real Estate Research in Asia - Past, Present and the Future

teh The growth in real estate research in Asia has been very significant over the past decade. Figure 1 shows the trend of the research papers on Asian real estate markets published in 17 real estate academic journals. A list of the journals surveyed is shown in Table 1. This number represents only a fraction of all the studies on the Asian real estate markets since books, research monographs, research reports, conference papers, and journal papers published in languages other than English are not included. Figure 2 shows the breakdown by markets.Asia, Real Estate

One Dimensional nnary Density Classification Using Two Cellular Automaton Rules

Suppose each site on a one-dimensional chain with periodic boundary condition may take on any one of the states $0,1,..., n-1$, can you find out the most frequently occurring state using cellular automaton? Here, we prove that while the above density classification task cannot be resolved by a single cellular automaton, this task can be performed efficiently by applying two cellular automaton rules in succession.Comment: Revtex, 4 pages, uses amsfont

Finding The Sign Of A Function Value By Binary Cellular Automaton

Given a continuous function $f(x)$, suppose that the sign of $f$ only has finitely many discontinuous points in the interval $[0,1]$. We show how to use a sequence of one dimensional deterministic binary cellular automata to determine the sign of $f(\rho)$ where $\rho$ is the (number) density of 1s in an arbitrarily given bit string of finite length provided that $f$ satisfies certain technical conditions.Comment: Revtex, uses amsfonts, 10 page

Over-Confidence and Cycles in Real Estate Markets: Cases in Hong Kong and Asia

Studies on the calibration of subjective probabilities find that people tend to over-estimate the precision of their knowledge. In this paper we develop a semi-rational model and apply it to the real estate markets in Hong Kong and other Asian countries. The key point is that a person is rational about her/his private information until her/his private information is confirmed by a clearly defined market signal. Using a pre-sale as a mechanism of updating a developer's beliefs, this paper analyzes the impact of over-confidence on overbuilding and cycles in real estate markets. Our finding indicates that a pre-sale activity will increase the magnitude of over-building and over-confidence will increase the volatility in real estate markets. Our model also has implications to the well-established literature dealing with the issue of over-capacity in many industrial sectors.

A computer-enhanced pH study of the formaldehyde–sulphite clock reaction

The formaldehyde-sulphite clock reaction was studied using an Orion SA 720 pH/ISE meter interfaced to an IBM PC. The laboratory software ‘ASYST’ was employed to facilitate data acquisition and data treatment. Experimental pH profiles thus obtained for the first time were simulated by invoking a theoretical model based on the reaction mechanism suggested by Burnett [1]. The variation of rate constants with compositions of reaction mixtures was also discuseed in light of the empirical expression proposed by Bell and Evans [2] for instantaneous rate constant of the clock reaction

Neural processes of proactive and reactive controls modulated by motor-skill experiences

This study investigated the experience of open and closed motor skills on modulating proactive and reactive control processes in task switching. Fifty-four participants who were open-skilled

Quantum Convolutional Error Correcting Codes

I report two general methods to construct quantum convolutional codes for $N$-state quantum systems. Using these general methods, I construct a quantum convolutional code of rate 1/4, which can correct one quantum error for every eight consecutive quantum registers.Comment: Minor revisions and clarifications. To appear in Phys. Rev.

Flavor SU(3) symmetry and QCD factorization in B→PPB \to PP and PVPV decays

Using flavor SU(3) symmetry, we perform a model-independent analysis of charmless $\bar B_{u,d} (\bar B_s) \to PP, ~PV$ decays. All the relevant topological diagrams, including the presumably subleading diagrams, such as the QCD- and EW-penguin exchange diagrams and flavor-singlet weak annihilation ones, are introduced. Indeed, the QCD-penguin exchange diagram turns out to be important in understanding the data for penguin-dominated decay modes. In this work we make efforts to bridge the (model-independent but less quantitative) topological diagram or flavor SU(3) approach and the (quantitative but somewhat model-dependent) QCD factorization (QCDF) approach in these decays, by explicitly showing how to translate each flavor SU(3) amplitude into the corresponding terms in the QCDF framework. After estimating each flavor SU(3) amplitude numerically using QCDF, we discuss various physical consequences, including SU(3) breaking effects and some useful SU(3) relations among decay amplitudes of $\bar B_s \to PV$ and $\bar B_d \to PV$.Comment: 47 pages, 3 figures, 28 table

Benefit sharing for BIM implementation: Tackling the moral hazard dilemma in inter-firm cooperation

Building information modeling (BIM) plays an important role in furthering value-creation of construction projects by advocating the inter-firm cooperation. When implementing BIM, however, individual firms inherently safeguard their self-interests regardless of the fact that inter-firm cooperation might reap joint BIM benefits for a project overall, which epitomizes a typical problem of moral hazards in project-based organizations. This paper develops an outcome-linked benefit sharing model that considers sharing joint BIM benefits among stakeholders including designers, contractors, and clients for tracking moral hazards therein. By modeling stakeholders' behaviors as evolutionary games within a principal–agent formalism, it has been deducted that (1) designers/contractors could be incentivized to cooperate had each stakeholder received a share higher than the quotient of BIM costs over value-creation in the design/construction phase; and (2) how joint BIM benefits can be more than noncooperation outcomes is key for clients to support BIM implementation