We define a generalized notion of cohomological periodicity for a connected
CW-complex X, and show that it is equivalent to the existence of an orient
ed spherical fibration over X with total space homotopy equivalent to a fin
ite dimensional complex. As applications we characterize discrete groups wh
ich can act freely and properly on some R-n x S-m, show that every rank two
p-group acts freely on a homotopy product of two spheres and construct exo
tic free actions of many simple groups on such spaces.