75. Game Analysis of Stakeholders in Urban Renewal Based on Maximization of Social Welfare

Urban renewal is one of the important ways in the urbanization process of China. Compared to the new construction, the rights of stakeholders in urban renewal are more complex and the game is more intense. Based on the principle of maximizing social welfare, this article establishes renewal game model, constructs the utility function to analyze the equilibrium condition of the game, and then puts forward four kinds of urban renewal model, they are, respectively, government direct implementation, residents self-raised, developers’ participation and government and market coordination. Comparative analysis found that the mode of government provides policies and developers participate in with support of the villagers are both likely to achieve win. From the analysis of the comprehensiveness of social and economic, it’s indispensable both to ensure the government policies support the developers’ profit requirement and coordinate the residents to participate in actively. The theoretical model is used in the demonstration of transformation of Lieder village of Guangzhou and expected benefits of government, villagers and developers quantified to be 92.21, 177.93, 3134.04 million Yuan respectively, which meet the pursuit of the economic interests of the parties. The study also confirmed that the three indispensable conditions for the balanced game and successful decisions are fairness of policies government provides, support of the villagers and developers’ financial strength.