The no arbitrage conditions are derived in the explicit form for the market, where the zero coupons bonds of various … assets is extended on case of any number of assets and inflation. The no arbitrage condition for multi-factor models of a … obtained at first, and then for want of it fulfillment the no arbitrage condition is derived …

arbitrage-free and incomplete market setting when different pricing measures are possible. Involved pricing measures now depend …

Using a stochastic discount factor approach, we derive the exact solution for arbitrage-free bond yields for the case …