We discuss an approach to modeling the slack season provision of guided tours to tourists that accounts for the twin phenomena of stochastic demand and tourist heterogeneity but is different from the way in which this problem has been modeled in the extant tourism literature. Our discussion uses...

We employ a stochastic dynamic programming approach to study decision making by an individual wishing to have an arranged marriage. First, we show that this individual never opts out of a voluntarily agreed upon marriage. Second, we demonstrate that our marrying individual uses a reservation...

In this note, we study a guided tour providing firm that operates in a stochastic environment. The environment is stochastic because this firm's costs are deterministic but its revenues are stochastic. Since revenues are stochastic, the profits of this firm are also stochastic. For such a firm,...

We first construct a theoretical model of tax evasion in a stylized developing country in which all taxpayers have either high or low income. The key problem is that the high income taxpayers may under report their income. An individual income tax return can only be verified with an audit that...

We analyze the activities of an entrepreneur who must, at each date, decide whether to search for a new production technique or to produce output with an extant technique. Our analysis leads to four results. First, we show that if our entrepreneur rejects a particular production technique at a...

We focus on the interaction between a male employee and his supervisor and analyze a game-theoretic model of sexual harassment in the workplace. The male employee is accused of sexually harassing a female employee and the supervisor's task is to gather evidence and then determine whether to...

We analyze the impact of preference matching and income on the distribution of the population in an aggregate economy consisting of an urban and an adjacent rural region. It costs more (less) to live in the urban (rural) region. Individuals choose freely to live either in the urban or in the...

We study aspects of economic growth in a region that is creative a la Richard Florida. Members of the creative class possess creative capital and they fall into one of two possible groups---they are either artists or engineers. We describe the optimal income redistribution rule that maximizes...

Despite the salience of Mr. Narendra Modi's campaign from both environmental and touristic standpoints, the extant literature contains no theoretical studies of the clean-up of the Ganges and its connection to tourism. Hence, we use a simple model and provide the first stochastic analysis of the...

We study pollution cleanup in the Ganges in Varanasi, India. Voters elect politicians and elected politicians decide how much pollution to clean up. Between the two time periods, there is an election. Politicians are sincere or insincere. The marginal cost of public funds ζ measures how...