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We estimate a more complete model of the demand for and supply of hotel rooms and explore its implications for the exportability of a hotel room tax. The modelling of the demand for travel to Hawaii is expanded, taking into account not only the effect of a hotel room tax on the demand for hotel...
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Chenery, Manne, and Srinivasan contributed to a model of investment in capacity expansion assuming a demand growth rate, a discount rate, and economies of scale. In their model, minimizing the sum of discounted future capacity investment costs always requires capacity replenishments to be...
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