Austin J. Jaffe

Professor Emeritus of Business Administration
Department: International Programs
Office: 361 Business Building
Phone: 814-865-1938
Fax: 814-865-6284
Member of Faculty Since: 1980


Dr. Jaffe is the Philip H. Sieg Professor of Business Administration, Director of International Programs, and Director of the Institute for Real Estate Studies. Prior to coming to Penn State, he taught at the University of Oregon and he has also held faculty appointments at several international universities including The Royal Institute of Technology in Sweden, University of Amsterdam in The Netherlands, Tel Aviv University in Israel, National University of Singapore, University of Auckland in New Zealand, University of Hong Kong, and the Swedish School of Economics and Business Administration in Finland. Professor Jaffe is recognized as a real estate authority throughout the world and has appeared on programs to give papers at more than 100 institutions in more than 30 countries. He also served as a consultant to The World Bank, Nordic Council of Ministers, Prudential Realty Group, Eastern European Real Property Foundation, Real Estate Research Institute, and others.

Current Research

Professor Jaffe research interests lie in the areas of real estate financial analysis, the economics of property rights, the economic effects of legal institutions, the conceptual basis of property, and real estate computerization.


Economics of Urban Property Rights
Conceptual Basis of Property
Comparative Property Rights Systems
Real Estate Financial Theory and Analysis
Financial Contracting

Publication List

Austin J. Jaffe, "Real Estate as Property Rights", Real Estate Economics, 1/1/2003,


Journal of Property Investment and Finance (UK) (North American Editor)


Ph.D., University of Illinois, 1978

M.S., University of Illinois, 1975

B.S., University of Illinois, 1974


REST 570, Institutional Real Estate Investment

BA 597A, Property Rights in a Global Environment

REST 420, Analysis of Real Estate Markets

REST 450, International Real Estate Markets

I B 290, International Business Goes to the Movies