An independence result concerning the arrival rate of and the provision of transport to tourists
What 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.
Volume (Year): 29 (2009)
Issue (Month): 1 ()
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References listed on IDEAS
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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, vol. 2(2), pages 67-75, October.
- Batabyal, Amitrajeet, 2007.
"A Probabilistic Analysis of a Scheduling Problem in the Economics of Tourism,"
71875, University Library of Munich, Germany.
- Amitrajeet Batabyal, 2007. "A probabilistic analysis of a scheduling problem in the economics of tourism," Economics Bulletin, AccessEcon, vol. 12(4), pages 1-7.
- Jonas Nordström, 2005.
"Dynamic and stochastic structures in tourism demand modeling,"
Springer, vol. 30(2), pages 379-392, 09.
- Nordström, Jonas, 2002. "Dynamic and Stochastic Structures in Tourism Demand Modelling," Umeå Economic Studies 596, Umeå University, Department of Economics.
- repec:ebl:ecbull:v:12:y:2007:i:4:p:1-7 is not listed on IDEAS
- Amitrajeet Batabyal & Hamid Beladi, 2008. "Visitor classification, vehicle breakdowns, and the provision of transport for tourism," Letters in Spatial and Resource Sciences, Springer, vol. 1(2), pages 99-105, December.
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