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As they account for the largest share of employment and value added, services do not (or cannot) lie outside a Schumpeterian view of innovation phenomena. Of the various attempts at shedding more light on the mechanisms of innovation in service industries and firms, we consider the “reverse product cycle” to warrant special attention because of its highly thought‐provoking nature and its theoretical ambition. This article has two objectives: first, to present this interesting and still neglected theoretical study, and second, to evaluate on a theoretical and empirical level the extent to which Barras’ model meets the objective of a “theory of innovation in services”.

Presents results of an investigation into the rate of rental and capital obsolescence in the City of London office market. Using a theoretical approach based on a “vintage model” of capital investment and data from the IPD database, assesses the historic rate of obsolescence in the City and draws comparisons with previous studies, finding similar rates of rental obsolescence (1.2 per cent p.a.), but lower rates of capital obsolescence (1.6 per cent p.a.). Considers the potential for an acceleration in the rate of obsolescence resulting from the introduction of new working practices and the emergence of an endemic over‐supply in the market.

There are manifold causal linkages between information and communications technologies (ICTs) and social sustainability. In this article, these linkages are classified into three areas: direct improvement of corporate productivity, changed behaviour of people/organizations, and improved decision‐making capabilities within society. A framework is proposed to analyse the first two of these three linkages, together with the results of a questionnaire survey. These point to a continuous growth trend in Japanese ICT investment with sectoral variations, and statistically significant evidence of ICTs’ contributions to corporate operations and environmental issues.

Discusses the relevance of formal marketing information systems for services marketing. Examines information technology and its potential for services marketing, presenting a design for an integrated services marketing information system. Examines emerging technologies and their applications to service marketing problems. Considers the overlap between marketing and operations for service businesses. Concludes with a discussion of an implementation vector for exploiting the benefits of this overlap and of related managerial issues.

Coming close upon the Report of the Symposium which considered possible toxicological dangers of cosmetics and toilet preparations, held in London last November by the European Committee on Chronic Toxicity Hazards (“Eurotox”), the decision recently announced in the Commons by the Parliamentary Secretary to the Minister of Science of the Government‐aided British Industrial Biological Research Association to undertake research to ascertain if toxic hazards exist from colouring matters used in lipsticks, is a small beginning. This prompts the question of how long before “cosmetics” will be added to “food and drugs” in this country as it was in U.S.A. in the nineteen‐thirties. At present there is practically no statutory control over the constituents used in the manufacture of these commodities, the manufacture and sale of which have increased enormously in recent years.

The purpose of this paper is to review what is known about property cycles following the financial crisis of 2008.

The method is to review the literature on property cycles published since the 1930s, to examine the extent to which endogenous causes have been identified as distinct from exogenous factors that may have produced cyclicality resulting from weak adjustment mechanisms but not cycles.

Whilst there is broad consensus that the property market has delays in adjustment which produce oscillations resulting from external shocks, it is more difficult to identify endogenous causes of cycles, though there are some possible candidates, notably technical progress.

The slump after 2008 has cost savers and taxpayers dear, so better means of predicting cycles so that policy makers can mitigate them is desirable.

The debate about whether property cycles result from exogenous shocks or endogenous causes is in danger of being lost sight of. If the former, then the property industry is a channel through which external factors feed through to the economy, albeit magnified by weak adjustment factors. If there are endogenous causes, then policy makers would be unwise to overlook their potential destabilising impact on the economy.

The purpose of this paper is to review what is known about obsolescence and its causes, and provide a critique of how it is reflected in valuations.

The method has been to review the literature on obsolescence to examine the main causes and whether there are approaches that can identify the vulnerability of buildings to the business models they are designed to satisfy becoming outmoded.

Obsolescence is an inherent part of the way in which market economies function as new competitors disrupt established business models. Investors need better methods to evaluate the risk that obsolescence poses to their portfolios.

Obsolescence can result in significant unpredicted losses of value.

Much of the literature on obsolescence treats it in the same way as depreciation without recognising its unpredictable nature. The paper explores alternative approaches to how obsolescence might be measured.

This paper aims to review property cycle theory and the relevance of the larger body of knowledge about cycles with reference to the housing market. It also aims to highlight the lack of research into property cycles in the residential sector on a suburb or smaller region basis, as well as the potential for increased knowledge about cycles to assist to avoid housing stress.

The paper conducts a literature review of previous cycle research and encourages the use of cycle theory. It discusses the established body of knowledge about business cycles and the office market sector, as well as investigating levels of housing affordability and how detailed knowledge about property cycles can assist to decrease housing affordability in residential areas, which will eventually experience a downturn.

It is argued that an increased level of certainty about cycle behaviour in particular suburbs will give households a higher level of confidence when considering whether and when to enter the market. Property cycle research has the potential to assist low‐income homeowners to better understand the characteristics of cycles and associated risks in each residential.

This is a conceptual paper and has conducted a review of cycle research and housing affordability in certain countries. Some areas or countries may be affected to varying degrees by property cycles and levels of housing affordability.

In extended periods of high volatility it is argued that a better understanding of housing cycles will allow more homeowners to avoid negative equity and the stress associated with repossessions. Property cycles are unavoidable although there is typically relatively little information available in the open market about the timing and amplitude of cycles in individual areas.

This paper is unique as it highlights the potential for property cycles to be used to avoid housing stress in the residential market. Traditionally cycle research is used to increase returns and avoid downturns in the office and/or business sectors.

Considers the important ways in which property is different from other investments and the problems associated with measurement of investment performance in the property market. Outlines the features of the difference of property investment as providing a medium‐level ′secure′ income, a different performance cycle, and a lower level of risk. Discusses the issues creating concern over the pricing of property and the ability to measure its performance, and looks at recent developments in the market. Suggests that the processes of evaluation and performance measurement are providing data on a more comparable basis as the property market itself becomes more efficient.

The purpose of this paper is to assess the duration of the UK commercial property cycles, their volatility and persistence to gauge future market direction.

The study employs a novel approach to dissect cycles in a form of a three-step algorithm. First, the Hodrick-Prescott de-trends the selected variables. Second, volatility (measured by the variance) screens periods of atypical fluctuations in the series. Finally, the series is regressed against its past values to assess the level of persistence. The sequential steps screen the length of the cycles in UK commercial property market to facilitate interpretation.

The estimates suggest that UK commercial property market follows an eight-year cycle. Combined modelling results indicate that the current market trend is likely to change over the coming year. The modelling suggests increasing probability of a market correction in late 2016/early 2017.

This updated appreciation of the UK commercial property cycle duration allows for better market timing and investment decision making.

The paper adds additional evidence on the contested issue of UK commercial property cycle duration.