In mathematical finance, the Cox–Ingersoll–Ross (CIR) model describes the evolution of interest rates. It is a type of "one factor model" (short-rate model) as it describes interest rate movements as driven by only one source of market risk.
In financial mathematics, the Cox–Ingersoll–Ross (CIR) model depicts the dynamics of interest rates. It is categorized as a "one-factor model" (short-rate model), given that it represents interest rate shifts through only one source of market risk.