1.14.1.2. Gauss+ Model vs. Vasicek Model:

| Vasicek Model | Gauss+ Model |

|--------------------------------|-----------------------------------------------|

| A one-factor model. | A three-factor model (with two sources of risk). |

| Assumes a normal distribution for the factor. | Assumes normal distributions for the factors. |

| Cannot capture the hump-shaped term structures of volatility. | Can capture the hump-shaped term structures of volatility. |

| A simple but less flexible model. | A model that balances the tractability |