Table 1 Results of the 1st step of Occam’s Window for Busan
| Model | FOLP(Busan) | ATP(Busan) | UR(Busan) | CPI | MI | MR | GDP(nom.) | GDP(real) | IOAIP | CDrate | ATS(Busan) | PMP (Exact) | Occam’s Window |
| 1 | 10 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0.2424471 | * |
| 2 | 94 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0.08691029 | |
| 3 | 56 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 0 | 0.04925425 | |
| 4 | 50 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0.03341011 | |
| 5 | 90 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0.02969107 | |
| 6 | 30 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0.01918778 | |
| 7 | 448 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 0 | 0 | 0.0167098 | * |
| 8 | 95 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 0.01400002 | |
| 9 | 14 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0.01392349 | |
| 10 | 0f4 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 0 | 0.01382742 | |
| 11 | 110 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0.01369924 | |
| 12 | 18 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0.01148302 | |
Note: FOLP (fluctuation of land price); ATP (apartment trading performance); UR (unemployment rate); MI (market interest); MR (mortgage rate); IOAIP (index of all industry production); ATS (apartment trading status)