Kenneth Lusht

Professor Emeritus of Business Administration
Department: Risk Management
Office: 361 Business Building
Phone: 814-865-1190
Fax: 814-865-6284
Member of Faculty Since: 1973


Kenneth M. Lusht, Ph.D., MAI, is Professor of Business Administration and Zimmerman Endowed University Fellow in the Smeal College of Business at Penn State University. Dr. Lusht serves as Chairman of the Department of Insurance and Real Estate. He has served as Associate Dean for Research and Director of the Doctoral and MS Programs, Director of the Institute for Real Estate Studies, and Academic Program Director for the Continuing Education Program in Real Estate. He is a Fellow of the Homer Hoyt Institute, has served as a Faculty Associate of the Lincoln Institute of Land Policy, and as a Trustee of the Appraisal Foundation. He has served on the Board of Trustee of the Center for Economic Studies, and has been a visiting scholar at universities in Australia, New Zealand, Hong Kong, Singapore, Turkey and Finland. He has been a member of the Education Advisory Committee to the Pennsylvania Real Estate Commission. Lusht is a past president of the American Real Estate and Urban Economics Association, and has served two terms on that Association's Board of Directors. Dr. Lusht has received three Excellence in Teaching Awards from the M.B.A. Student Association, and has been the College of Business nominee for two teaching awards at the University level. He teaches for various trade associations. Dr. Lusht is widely published in both academic and professional journals and is the author of three texts. He has authored several seminars, and co-authored two courses for professional appraisal associations.

Current Research

His current research is focused on pricing mechanisms in property markets.


pricing mechanisms, especially auctions
quality of life studies
real estate investment, finance, valuation
economic impact studies

Publication List

Kenneth Lusht and Austin Jaffe, "A History of Value Thought: The Early Years", Essays in Honor of Bill Kinnard, American Real Estate Society, 1/1/2003,

Kenneth Lusht and Austin Jaffe, "Why Kinnard's 1971 Text Remains a Modern Day Classic", Essays in Honor of Bill Kinnard, American Real Estate Society, 1/1/2003,

Kenneth Lusht and Chris Major, "Beach Proximity and the Distribution of Property Values in Shore Communities", Appraisal Journal, 1/1/2004,

K. Lusht and S. E. Ong and C. Y. Mak, "Factors Influencing Auction Outcomes: Bidder Turnout, Auction Houses, and Market Conditions", Journal of Real Estate Research, 1/1/2005,


Ph.D., Georgia State University,

BBA, Emory University,