Determining if an app is available

Is it possible for a script to determine if an application is available, without launching the app? For example, I’d simply like the script to be able to determine if the user has a version of Photoshop installed, but I don’t want to launch it until later.

Thanks!

This could help at least from 5.0 (though I don’t which values will return different versions):

try
	tell application "Finder" to version of application file id "8BIM"
on error
	display dialog "PS not installed!"
end try

That works!

Thanks JJ, very clever!