An independence result concerning the arrival rate of and the provision of transport to tourists
AbstractWhat is the relationship between the arrival rate of tourists at a transport providing firm's depot and the long run expected wait time experienced by individual tourists in this depot? We use a renewal theoretic framework in this note to answer this question. Our analysis yields two results. First, we show that the long run expected wait time is independent of the arrival rate of the tourists. Second, we explain why this long run expected wait time is equal to the average residual life of a particular renewal process.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 29 (2009)
Issue (Month): 1 ()
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Find related papers by JEL classification:
- R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
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- Muhammad Chaudhary & Amitrajeet Batabyal, 2009. "A stochastic analysis of alternate ways of scheduling transport for tourists," Letters in Spatial and Resource Sciences, Springer, Springer, vol. 2(2), pages 67-75, October.
- Jonas Nordström, 2005.
"Dynamic and stochastic structures in tourism demand modeling,"
Empirical Economics, Springer,
Springer, vol. 30(2), pages 379-392, 09.
- Nordström, Jonas, 2002. "Dynamic and Stochastic Structures in Tourism Demand Modelling," UmeÃ¥ Economic Studies, UmeÃ¥ University, Department of Economics 596, Umeå University, Department of Economics.
- Amitrajeet Batabyal & Hamid Beladi, 2008.
"Visitor classification, vehicle breakdowns, and the provision of transport for tourism,"
Letters in Spatial and Resource Sciences, Springer,
Springer, vol. 1(2), pages 99-105, December.
- Amitrajeet Batabyal & Hamid Beladi, 2008. "Visitor classification, vehicle breakdowns, and the provision of transport for tourism," AStA Wirtschafts- und Sozialstatistisches Archiv, Springer, Springer, vol. 1(2), pages 99-105, December.
- repec:ebl:ecbull:v:12:y:2007:i:4:p:1-7 is not listed on IDEAS
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