Institute for Real Estate Studies

Purpose
The Institute for Real Estate Studies (IRES) is a privately sponsored research institution whose advisory board is made up of donors to the Institute. Established in 1985, the purpose of IRES is to foster effective discussion and policy-oriented research between academicians and business professionals in the area of real estate and the impact of governmental activities on the status of property rights.

Research

The following working papers and reprints are available from the Institute for Real Estate Studies located in the Department of Insurance and Real Estate at the Pennsylvania State University. The titles are representative of the research program of the Institute.

No. 116-Tom G. Geurts and Austin J. Jaffe, "The Property Rights Game: Discovering the Meaning of Private Property," Journal of Real Estate Finance and Economics, (January 1996).

No. 115-Adbullah Yavas and Martin Sefton, "Threat to Regulate and Coordination Failures: Experimental Evidence," Journal of Real Estate Finance and Economics , (January 1996).

No. 114-Austin J. Jaffe and Jeffery M. Sharp, "Contract Theory and Mortgage Foreclosure Moratoria," Journal of Real Estate Finance and Economics (January 1996).

96-05-John Flaherty, Kenneth M. Lusht, "Site Value Taxation, Land Values, and Development Patterns," (October, 1996).

96-04-Abdullah Yavas, Peter Colwell, "Buyer Brokerage: Incentive and Efficiency Implications," (November 8, 1996) (Abstract).

96-03-Abdullah Yavas, "Optimal Choice and Development of A Building Site," (March 1996).

96-02-Austin J. Jaffe, Demetrios Louziotis, Jr., "Property Rights and Economical Efficiency: A Survey of Institutional Factors," (February 1996).

96-01-Austin J. Jaffe, Bengt Turner, and Anders Victorin, "An Efficient Housing Market in Central and Eastern Europe?"(January 1996).

People: Austin J. Jaffe

Dr. Austin J. Jaffe is the Philip H. Sieg professor of Business Administration and research director of the Institute for Real Estate Studies at Penn State University. He is also president of JS & Associates, a real estate software firm. He has also served as interim department chair for the Department of Insurance and Real Estate at Penn State University. He received a B.S. in real estate and finance, an M.S. in finance, and a Ph.D. in real estate and finance all from the University of Illinois. Prior to coming to Penn State in 1981, he taught at the University of Oregon and has held faculty appointments at several prestigious international universities including the Royal Institute of Technology, Sweden; University of Amsterdam, the Netherlands; Tel Aviv University, Israel; National University of Singapore; University of Auckland, New Zealand; Swedish School of Economics and Business Administration; and University of Hong Kong.

Professor Jaffe is recognized as a real estate authority throughout the world and has appeared as an invited speaker on property rights issues and real estate financial analysis throughout Eastern Europe and in the former Soviet Union. He has appeared on professional programs to give invited papers at more than 100 institutions in more than 25 countries. He has also appeared on executive and professional programs for several national associations. He has served as a consultant to The World Bank, Nordic Council of Ministers, Prudential Realty Group, Eastern European Real Property Foundation, Real Estate Research Institute, Federal Home Loan Bank Board, and others.