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The purpose of this paper is to study the coupled fixed point problem and the coupled best proximity problem for single-valued and multi-valued contraction type operators defined on cyclic representations of the space. The approach is based on fixed point results for appropriate operators generated by the initial problems.

In this paper, we use the notion of cyclic representation of a nonempty set with respect to a pair of mappings to obtain coincidence points and common fixed points for a pair of self-mappings satisfying some generalized contraction- type conditions involving a control function in partial metric spaces. Moreover, we provide some examples to analyze and illustrate our main results.

Theoretical method.

We establish some coincidence points and common fixed point results in partial metric spaces.

Results of this study are new and interesting.

This paper aims to propose a new valuation method for income producing properties. The model originally called cyclical dividend discount models (d’Amato, 2003) has been recently proposed as a family of income approach methodologies called cyclical capitalization (d’Amato, 2013; d’Amato, 2015; d’Amato, 2017).

The proposed methodology tries to integrate real estate market cycle analysis and forecast inside the valuation process allowing the appraiser to deal with real estate market phases analysis and their consequence in the local real estate market.

The findings consist in the creation of a methodology proposed for market value and in particular for mortgage lending determination, as the model may have the capability to reach prudent opinion of value in all the real estate market phase.

Research limitation consists mainly in a limited number of sample of time series of rent and in the forecast of more than a cap rate or yield rate even if it is quite commonly accepted the cyclical nature of the real estate market.

The implication of the proposed methodology is a modified approach to direct capitalization finding more flexible approaches to appraise income producing properties sensitive to the upturn and downturn of the real estate market.

The model proposed can be considered useful for the valuation process of those property affected by the property market cycle, both in the mortgage lending and market value determination.

These methodologies try to integrate in the appraisal process the role of property market cycles. Cyclical capitalization modelling includes in the traditional dividend discount model more than one g-factor to plot property market cycle dealing with the future in a different way. It must be stressed the countercyclical nature of the cyclical capitalization that may be helpful in the determination of mortgage lending value. This is a very important characteristic of such models.

The aim of this paper is to study the relationship between the popularity of discount stores and the aggregate business cycle: Does discounters' market share go up during economic contractions and go down during economic expansions? Does the aggregate business cycle contribute to the long-term growth of discounters' success? Does the relationship between discounters and the economy differ across discounter types, namely hard versus soft discounters?

The study will consider the relationship between discounters' market share and the aggregate economy between 1991 and 2008 for 15 Western European countries. Moreover, aggregated data is provided for the Western European region as a whole, which distinguishes hard from soft discounters' share. Recent time-series techniques are used to disentangle the temporary versus permanent effects of economic contractions on discounters' share.

The aggregate business cycle induces temporary upward and downward swings in discounters' market share. Moreover, part of the increase in discounters' share during an economic contraction remains beyond the contraction, resulting in a permanent boost in discounters' popularity. Same substantive findings are found for each discount type (i.e. hard and soft).

In economic contraction years the growth rate of both hard and soft discounters accelerates, leaving permanent scars on the performance levels of traditional retailers. Discounters should try to further enhance their increased popularity when the economy turns sour. Traditional retailers, on the other hand, should try to prevent consumers from switching to discounters during contractions. Future research should explore the strategies that are called for in order to do this.

Discounters are the fastest growing grocery format in Europe. Traditional retailers can no longer afford to ignore them. As such, a better understanding of the drivers of this growth is called for. This study highlights one of the potential drivers, namely the economic climate, a driver that is widely discussed in the business press with substantial implications for grocery channel management.

This study investigates whether cyclical turning points in the U.S. and U.K. stock markets are unevenly distributed over the year, that is, whether they are more likely to occur during certain months of the year. In examining this form of periodic seasonality, a Markov switching‐model is applied to U.S. and U.K. stock market chronologies of monthly peak and trough dates for the periods May 1835 through March 2000 and May 1836 through September 2000, respectively. In order to provide some evidence on robustness with respect to the sample data, results are obtained for the entire sample periods as well as for various sub‐. For both markets, the evidence indicates that while the probability of moving from an expansion to a contraction does not depend on the month of the year, the probability of switching from a contraction is greater for some months. Additionally, the durations of contractions, but not expansions, are dependent on the month of the year in which they begin.

This study aims to analyze whether tax compliance is the basis for the short-run dynamics of the development of welfare and happiness. The strengthening of tax compliance of corporates and citizens is not only important to achieve the goals assumed by fiscal policy but also is part of the values that can generate a higher level of welfare and happiness in Europe.

This study uses a dynamic factor model to offer new indexes that allow to monitor tax compliance, public spending and happiness trajectories and to evaluate their short-run relationships. Next, an analysis of the cyclical characteristics in terms of duration, amplitude and intensity is provided using the Harding and Pagan method (2002).

The empirical findings show that the European countries were able to reinforce tax compliance during the expansionary periods of the economy, and this has made it possible to increase public spending, and indirectly, happiness. Otherwise, this paper shows that the contractions of public resources during the global crisis, such as the case in the COVID-19, reduced the possibilities of well-being in Europe and made it more difficult to increase public spending and happiness.

This study tries to analyze the transmission channels and relationships of three very complex variables: tax compliance, public spending and happiness. Incorporating these three variables into this research, with a short-run perspective, the authors have opened a new line of research that enriched the previous analysis. Therefore, the authors’ results should be considered the first step, that this study is going to continue to unravel the complexity of these relationships.

The design of policies aimed at improving individual, corporate and the well-being of nations needs them to incorporate elements of tax compliance as an objective that has economic and social implications. Individuals and corporates contribute to a fairer and more equitable society through compliance with tax obligations.

To the best of the authors’ knowledge, this is the first paper that offers evidence on the short-run dynamics of tax revenue, public spending and happiness for a better understanding of their relationships and behavior during the different periods of the economy.

This paper aims to empirically identify factors that increase consumer vulnerability to pyramid scheme fraud and compares/contrasts dynamics and implications of pyramid and Ponzi fraud.

Statistical techniques, including multiple regression, are used to analyze participant data (with over half a million individuals) from a now-defunct US-based pyramid scheme, Fortune Hi-Tech Marketing.

Findings suggest that this pyramid scheme flourished in counties with identifiable affinity groups: religious communities, Hispanic populations and certain age cohorts (e.g. recently retired). Recruitment success varied significantly between geographic regions, with the highest levels of recruitment in the South. While prior research finds a possible positive relationship between education and Ponzi participation, this is not the case in the pyramid scheme studied. Furthermore, while Ponzi schemes might be pro-cyclical, collapsing during contractions when participants seek to extract their money, this pyramid scheme exhibited counter-cyclical behavior.

State and federal regulators, as well as consumer protection advocates, should learn from analysis of past pyramid scheme cases. Such analysis informs allocation of scarce resources and supports the case for targeted, active education. Clarifying differences between Ponzi and pyramid fraud helps to support clear and effective intervention.

This is the first research to analyze national participant-level data from a pyramid scheme to inform future action. While it confirms some past findings, such as the connection to affinity fraud, it adds to collective knowledge on pyramid schemes and the differences between pyramid and Ponzi fraud.

This chapter sheds new light on the linkages between stock market fluctuations and business cycles in Asia. It shows that at cyclical frequencies stock markets lead business cycles by six months on average. China, Korea, and Taiwan constitute exceptions, as their real and stock market cycles are contemporaneously synchronized. The low level of maturity of these markets offers a potential explanation of this outcome. Furthermore, we find that the linkage also holds during phases of cyclical upswing and downturn, with the exception of China, where the financial market lags behind industrial production during expansions. Finally, for most of the countries (except Thailand and Malaysia), the linkage is also robust to the presence of financial crises.

This chapter investigates the “pulsations” of regional interaction networks (world-systems) in Afroeurasia over the past 3,000 years. The purpose is to determine the causes of a fascinating synchrony that emerged between East Asia and the distant West Asian/Mediterranean region, but did not involve the intermediate South Asian region. The hypothesized causes of this synchrony are climate change, epidemics, trade cycles, and the incursions of Central Asian steppe nomads. This chapter formulates a strategy of data gathering, system modeling, and hypothesis testing that can allow us to discover which of these causes were the most important in producing synchrony as the Afroeurasian world-system came into being.

Several recent studies have indicated the existence of a predictable component in stock prices. This study examines the sources of this serial correlation using error‐correction models. The results show that autocorrelated economic variables can generate serial correlation in stock returns. After these effects are accounted for, however, significant serial correlation in stock prices remains. The activities of noise traders and inefficiencies in the pricing of securities, within the context of limitations to the arbitrage process, are suggested as additional sources of serial correlation in stock prices.