Multidimensional Fairness Equilibrium Evaluation of Urban Housing Expropriation Compensation Based on VIKOR

Zhaoyu Cao, Yucheng Zou, Xu Zhao, Kairong Hong and Yanwei Zhang
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Zhaoyu Cao: School of Business, Central South University, Changsha 410083, China
Yucheng Zou: School of Business, Central South University, Changsha 410083, China
Xu Zhao: School of Management, Hunan City University, Yiyang 413000, China
Kairong Hong: School of Business, Central South University, Changsha 410083, China
Yanwei Zhang: Department of Land Management, College of Public Administration, Huazhong University of Science and Technology, Wuhan 430074, China

Mathematics, 2021, vol. 9, issue 4, 1-26

Abstract: Against the backdrop of emerging markets and the transitional society, the large-scale start-up of real estate development projects has brought about rapid economic growth and accelerated urban expansion, followed by extreme disputes between social groups. This paper aims to effectively solve the real dilemma of urban housing expropriation by obtaining a consensus regarding the fairness of compensation standards among expropriation compensation-related subjects. Three behavioral preferences—profit-seeking fairness, loss aversion and interactive fairness—were added to a multidimensional fairness equilibrium evaluation indicator system of urban housing expropriation compensation. The entropy method was used to calculate their weights. A multidimensional fairness game model and a multidimensional fairness equilibrium evaluation method based on compromise multi-criteria decision-making VlseKriterijumska Optimizacija I Kompromisno Resenje (VIKOR) of urban housing expropriation compensation were constructed to combine different strategic schemes of related subjects for the purpose of obtaining the compromise optimal solution, that is, the multidimensional fairness game equilibrium solution. The stability of the multidimensional fairness game model and the objectivity of the multidimensional fairness equilibrium evaluation were tested and verified through case data analysis and sensitivity analysis. The conclusion is drawn that the multidimensional fairness game equilibrium solution can effectively resolve extreme disputes regarding urban housing expropriation.

Keywords: urban housing expropriation compensation; multidimensional fairness; equilibrium evaluation; VIKOR (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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