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Im working through a solution to evaluating pricing for Vasiceks model enter image description here

However i dont understand the u∧t terms and how that behaves under the integrals...any help??

Cheers

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  • $\begingroup$ Could you clarify a bit more your question @user28140? It is unclear what you asking exactly. $\endgroup$ Commented May 28, 2017 at 14:33
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    $\begingroup$ $u\wedge t=\min(u, t)$. $\endgroup$
    – Gordon
    Commented May 28, 2017 at 17:54
  • $\begingroup$ go to check answer ur question p. 592 in Handbook of Multi-Commodity Markets and Products: Structuring, Trading and Risk Management by Andrea Roncoroni. $\endgroup$
    – Khudeeda
    Commented Jul 11, 2020 at 13:51

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that symbol means "the min of". So for example, if: $s<t$, then $s$ ^ t = s.

If you look in any book for the Covariance of a BM, you will see that same symbol and how to work with it. Cheers.

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