The present paper makes use of the minimum of a random number of nonnegative random variables and a nonnegative random variable for formulating a stochastic multiplicative model. Sufficient conditions for evaluating the distribution function of the model are also established. Moreover, the paper...

Stochastic discounting models are generally recognized as extremely strong analytical tools for a very wide variety of fundamental areas in the actuarial discipline. The paper is mainly devoted to the formulation, investigation and application in the actuarial discipline of a stochastic...