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The research investigates optimal pricing and inventory policies in the case in which the demands of different periods are identical. However, the supplies fluctuate due to cycles in nature as well as additional environmental and other factors. Each cycle contains two periods or seasons. A peak season with a large given supply is followed by a regular season with a small supply. The model deals with deterministic supply and the question of what policy is adopted regarding the quantities produced and sold in the markets at each period. It first considers the case without the use of inventory for delivery between periods. In the second case, inventory that can be produced at the peak period is only for sale at the regular period. It is sold as non-fresh inventory that is a 'supplement' to the fresh output produced at the regular period. [ABSTRACT FROM AUTHOR]

If, when and where to travel is normally planned in advance. Hence, the exchange rate at the time of booking accommodation is likely to play an important role in determining inbound tourist demand. That fluctuations in the exchange rate influence inbound hotel demand is well established in the literature, but the lag with which it influences demand has received limited attention. This paper sets out to remedy this, by estimating the elasticity of hotel demand and its lag structure with respect to exchange rate fluctuations. Our data consists of a panel of hotel beds sold per month in Norway to tourists from ten different source countries. Models with source country fixed effects were used to obtain the estimates. We find evidence that demand is approximately unit elastic and that it operates with a lag of two to three quarters with respect to the exchange rate. The latter result is key since it enables improved medium-term demand forecasts in the tourist industry. [ABSTRACT FROM AUTHOR]

Since 1934, Norway has made use of toll financing of road infrastructure. The toll road system has a mixture of urban cordon toll rings, tolled fjord crossings, tolled motorways, and tolled public-private partnerships (PPPs). This paper begins by providing an overview of the various toll road projects and the planning framework and toll financing regime in Norway. Then it summarizes evidence on the demand effects of road tolls for a representative selection of projects. Finally, it discusses the socioeconomic efficiency of toll funding vis-a-vis conventional public funding. [ABSTRACT FROM AUTHOR]

A 3SLS econometric model is used to estimate price elasticities of supply and demand for domestically produced and imported canned tuna in the U.S. market. In addition, a VAR model is developed to examine the relations between imports and domestically produced canned tuna. For domestically produced canned tuna, a 3SLS estimation of a structural econometric model yielded a coefficient for price elasticity of supply of 0.2 and of own-price demand of -0.3. Such price inelasticities are expected of a fishery exploited at or near its maximum yields (inelastic supply), and a consumer product widely viewed as almost a necessity in a well-stocked pantry (inelastic demand). In addition, the model yielded a cross-price elasticity of demand with respect to the price of imported canned tuna of 0.45. Additional results include an income elasticity U.S. demand for domestically packed tuna of 0.83; a cross-price elasticity with the price of bread (a complement) of -0.33, a cross-price elasticity for the price of ground meat (a substitute) of 0.30. With respect to imported canned tuna in the U.S. market, the corresponding elasticities estimated in the model are -1.3 (own-price demand), 3.5 (income elasticity),-1.2 (cross-price with the price of bread) and 2.5 (cross-price with the price of ground meat). [ABSTRACT FROM PUBLISHER]