Recently, Batabyal and Yoo (2009) 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...

In this note, we provide answers to two hitherto unstudied questions in the literature concerning the provision of shared transportation to tourists. First, we ascertain the long run fraction of time that there is no Sherut Taxi at a designated taxi stand. Second, we determine the long run...

Orchards are vulnerable to the damaging effects of attacks by invasive species. Therefore, in this paper, we focus on a representative tree in a stylized orchard and show how the theory of discrete time Markov chains can be used to construct a model of this tree that is to be managed in the...

We study how tax policy affects the competition for venture capital by the creative class in two regions A and B. The creative class in each region produces a final good with venture capital and creative capital. Venture capital moves freely between the two regions and the representative...

We theoretically analyze the interaction between two representative and real tanneries, denoted by A and B, that are located on the same bank of the Ganges River in Kanpur, India. Tannery A is situated upstream from tannery B. Both tanneries produce leather and leather production by tannery A...

We analyze an office environment with two types of workers. The first type believes that masks offer little or no protection against Covid-19 and hence this type does not wear a mask. The second type wants to protect itself from Covid-19 and therefore this type does wear a mask. By not wearing a...

We analyze interregional competition between two regions A and B that use taxes to attract a representative creative class member (the entrepreneur). This entrepreneur establishes a firm in either region A or B and this action guarantees her profit. However, if the entrepreneur locates in region...

Although ecologists have long recognized the importance of persistence in determining the behavior of ecological systems, it is only very recently that economists have begun to analyze this notion in relation to the use of services that are provided by jointly determined ecological-economic...

While it is clear that in most settings, landlords generally contract with many tenants whose productivities are positively correlated, the salience of relative performance evaluation in the design of rural wage contracts has been little studied in development economics. This paper analyzes two...

We first review the literature relating to the protection of the modern sector in developing countries (DCs). We then discuss the connections between protection, economic dualism, and optimal environmental policy in DCs. Next, we construct an intertemporal model of the environmental policy...