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

Amitrajeet Batabyal

MPRA Paper from University Library of Munich, Germany

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.

Keywords: Arrival Rate; Long Run Expected Wait Time; Tourist; Transport; Uncertainty (search for similar items in EconPapers)
JEL-codes: C44 R41 (search for similar items in EconPapers)
Date: 2009-02-03
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Published in Economics Bulletin 1.29(2009): pp. 108-115

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Journal Article: An independence result concerning the arrival rate of and the provision of transport to tourists (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:72134

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