Abstract
We investigate Bianchi type V cosmological models for perfect fluid source with time varying cosmological term Λ. We examine the possibility of cosmological models assuming the expansion anisotropy (the ratio σ/θ of the shear scalar σ to the volume expansion θ) to be a function of average scale factor R. The resulting models begin with initial anisotropy and approach isotropy at late times. Our models present an initial epoch with decelerating expansion followed by late time acceleration consistent with observations.
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