A Note on Guided Tours for Two Classes of Tourists During the Slack Season
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Recently, Batabyal and Yoo (2010) have conducted a probabilistic analysis of guided tours for a single class of tourists during the slack season. In this note, we extend the above analysis by considering the case of two distinct classes of tourists. Specifically, we first describe a general model that accounts for the common features of guided tours to city attractions and to other scenic locations. Then, we obtain a closed-form expression for the long run fraction of time that the guided tour providing firm under study is occupied and hence unable to immediately satisfy the demand for additional such tours.JEL Classification: L830, L230, D810
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