Abstract
The one-factor term structure model by Vasicek is analysed from the point of view of Lie symmetry analysis. Its one-parameter Lie point symmetries and corresponding group of adjoint representations are obtained. An optimal system of one-dimensional subalgebras is derived and is then used to obtain symmetry reductions and group-invariant solutions. The group-invariant solutions presented here are new and have not appeared in the literature. Moreover, we derive conservation laws for the Vasicek equation by employing the theorem due to Ibragimov.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Physica A: Statistical Mechanics and its Applications
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
