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Toward an Evolutionary Theory of Trade Associations: The Case of Real Estate Appraisers
Author(s) -
Jaffe Austin J.
Publication year - 1988
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00456
Subject(s) - real estate , context (archaeology) , perspective (graphical) , estate , set (abstract data type) , economics , finance , business , actuarial science , computer science , history , archaeology , artificial intelligence , programming language
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.