Although multiple-purchase behavior is typical in retail practice, the choice model to portray such behavior is rare in existing research. This paper presents a new multiple-purchase (MP) choice model based on the multinomial logit (MNL) choice model, which allows customers to purchase more than...

In this paper, we study the finite-time ruin probability in the risk model driven by a L´evy subordinator, by incorporating the popular Fourier-cosine method. Our interest is to propose a general approximation for any specified precision provided that the characteristic function of the L´evy...