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Toward an Evolutionary Theory of Trade Associations: The Case of Real Estate Appraisers

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  • Austin J. Jaffe

Abstract

This paper proposes a developmental theory of trade association life cycles with special emphasis on the case of real estate appraisers. Given a neo‐institutional perspective of the demand for appraisal services, the paper views real estate appraisers as information specialists. Trade associations tend to develop along a common, although not strictly fixed, set of steps. At each stage, various institutional activities occur that when observed, can be used to characterize the association's rate of development. In this context, real estate appraisers and their institutions are examined. Recent advances provide evidence that major changes are currently underway.

Suggested Citation

  • Austin J. Jaffe, 1988. "Toward an Evolutionary Theory of Trade Associations: The Case of Real Estate Appraisers," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(3), pages 230-256, September.
    • Handle: RePEc:bla:reesec:v:16:y:1988:i:3:p:230-256
    DOI: 10.1111/1540-6229.00456
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    Cited by:

    1. Bartke, Stephan, 2015. "The economic role of valuers in real property markets," UFZ Discussion Papers 13/2015, Helmholtz Centre for Environmental Research (UFZ), Division of Social Sciences (ÖKUS).
    2. Stephan Bartke & Reimund Schwarze, 2021. "The Economic Role and Emergence of Professional Valuers in Real Estate Markets," Land, MDPI, vol. 10(7), pages 1-20, June.
    3. Adamuscin Andrej & Palicki Sławomir & Rącka Izabela, 2017. "Real Estate Appraisal in Central-Eastern Europe: Comparative Analysis of Poland and Slovakia," Real Estate Management and Valuation, Sciendo, vol. 25(4), pages 50-62, December.
    4. David Downs & Z. Güner, 2012. "Information Producers and Valuation: Evidence from Real Estate Markets," The Journal of Real Estate Finance and Economics, Springer, vol. 44(1), pages 167-183, January.

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