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A stochastic model of the provision of guided tours to tourists

Author

Listed:
  • Amitrajeet A Batabyal

    (Department of Economics, Rochester Institute of Technology)

  • Hamid Beladi

    (Department of Economics, University of Texas at San Antonio)

Abstract

In this paper, we analyze a discrete-time Markov chain theoretic model of the provision of guided tours to tourists by a private firm. Specifically, we first determine the equilibrium probability distribution of the number of tourists in the guided tour providing firm's waiting room just before this firm begins to match tour guides with tourists. Second, we compute the long run expected number of tourists in this firm's waiting room. Finally, we ascertain the long run expected delay per tourist in the firm's waiting room.

Suggested Citation

  • Amitrajeet A Batabyal & Hamid Beladi, 2010. "A stochastic model of the provision of guided tours to tourists," Economics Bulletin, AccessEcon, vol. 30(1), pages 577-586.
    • Handle: RePEc:ebl:ecbull:eb-10-00029
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    References listed on IDEAS

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    1. repec:ebl:ecbull:v:12:y:2007:i:4:p:1-7 is not listed on IDEAS
    2. Nicole Koenig & Eberhard E. Bischoff, 2003. "Seasonality of Tourism in Wales: A Comparative Analysis," Tourism Economics, , vol. 9(3), pages 229-254, September.
    3. Amitrajeet Batabyal, 2007. "A probabilistic analysis of a scheduling problem in the economics of tourism," Economics Bulletin, AccessEcon, vol. 12(4), pages 1-7.
    4. Christine Lim & Michael McAleer, 2000. "A seasonal analysis of Asian tourist arrivals to Australia," Applied Economics, Taylor & Francis Journals, vol. 32(4), pages 499-509.
    5. Andrea Baez Montenegro & Mario Niklitschek Huaquin & Luis Herrero Prieto, 2009. "The valuation of historical sites: a case study of Valdivia, Chile," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(1), pages 97-109.
    6. 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.
    7. Konstantinos Andriotis, 2005. "Seasonality in Crete: Problem or a Way of Life?," Tourism Economics, , vol. 11(2), pages 207-224, June.
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    More about this item

    Keywords

    Guided Tour; Poisson Process; Stochastic Demand; Tourism;
    All these keywords.

    JEL classification:

    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

    Statistics

    Access and download statistics

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