On the Provision of Guided Tours in Multiple Foreign Languages to Tourists

Batabyal, Amitrajeet and Yoo, Seung Jick (2017): On the Provision of Guided Tours in Multiple Foreign Languages to Tourists. Forthcoming in: Economics Bulletin

Abstract

We provide the first theoretical analysis of the working of an agency that provides guided tours in multiple foreign languages to tourists. We begin by delineating a simple model of the functioning of such an agency. Our model accounts for the fact that this agency is operating in an environment of uncertainty because the demand for guided tours in foreign languages is probabilistic. Next, we compute the probability that in the next day, the agency under study will receive a total of n∈N requests for guided tours. Finally, we ascertain the probability density function of the amount of time it takes to complete a requested guided tour in an arbitrary foreign language.

• Item Type: MPRA Paper
• Language: English
• Keywords: Foreign Language Guided Tour, Tourist Agency, Uncertainty
• Subjects: D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty; L - Industrial Organization > L8 - Industry Studies: Services > L83 - Sports ; Gambling ; Restaurants ; Recreation ; Tourism

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