No Arbitrage Interest Rate Model的意思|示意

Despite that modern option pricing theory can give an accurate describe of the interest rate movement, no arbitrage model, the equilibrium model, the martingale model all have deficit.

尽管现代期权理论能对利率运动给出“精确”描述，然而，无论是无套利模式、均衡模式还是鞅模式，均存在一定的缺点。

This paper presents a no-arbitrage model of closed-form approximation for valuing basket options under a stochastic interest rate economy.

本文推导出在随机利率经济体系下，无套利条件之组合型选择权的近似封闭解。