In recent years sponsorship has become one of the most important promotion tools practiced by private companies. This paper develops the idea that sponsorship enters the production function as a kind of investment in immaterial capital, bringing the firm to a higher equilibrium level of...

The holiday can be considered a good for which the tourist pays a two-part tariff (TPT). The variable part, roughly proportional to the length of stay, is charged on top of a fixed price, paid to get to the destination (typically due to travel costs). We analyse the policy implications of this...