An independence result concerning the arrival rate of and the provision of transport to tourists

Amitrajeet Batabyal

Economics Bulletin, 2009, vol. 29, issue 1, 108-115

Abstract: 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.

JEL-codes: C5 R4 (search for similar items in EconPapers)
Date: 2009-02-16
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.accessecon.com/Pubs/EB/2009/Volume29/EB-09-V29-I1-P10.pdf (application/pdf)

Related works:
Working Paper: An independence result concerning the arrival rate of and the provision of transport to tourists (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-08r40002

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().