✦ LIBER ✦
A note on the use of Markov chains to analyze the off-peak season provision of guided tours to tourists
✍ Scribed by Amitrajeet A. Batabyal
- Publisher
- John Wiley and Sons
- Year
- 2010
- Tongue
- English
- Weight
- 61 KB
- Volume
- 13
- Category
- Article
- ISSN
- 1099-2340
- DOI
- 10.1002/jtr.812
No coin nor oath required. For personal study only.
✦ Synopsis
In this note, we provide answers to two hitherto unstudied questions in the tourism literature. Specifi cally, we fi rst show how the theory of discrete-time Markov Chains (DTMCs) can be used to effectively model and analyze the problem of providing guided tours to tourists during the off-peak season. Next, we model the existence of a capacity constraint and then show how DTMC theory can be used to derive a metric of interest to an optimizing tour providing fi rm, namely, the long run fraction of tourists to whom the fi rm under study is unable to provide tours.