<section xml:id="fut21613-sec-0001"> This paper is concerned with option valuation under a double regime‐switching model, where both the model parameters and the price level of the risky share depend on a continuous‐time, finite‐state, observable Markov chain. In this incomplete market set up, we first employ a generalized...</section>

This paper presents a novel risk-based approach for an optimal asset allocation problem with default risk, where a money market account, an ordinary share and a defaultable security are investment opportunities in a general non-Markovian economy incorporating random market parameters. The...

This paper presents a novel risk-based approach for an optimal asset allocation problem with default risk, where a money market account, an ordinary share and a defaultable security are investment opportunities in a general non-Markovian economy incorporating random market parameters. The...

China has in the last decade and especially since its entry into the WTO made considerable efforts to improve its judicial system, perfectly aware of the necessity to provide a stable framework for foreign investment and economic growth. An important part of this reform is the development of...

Investment has become increasingly important in shaping the economic landscape in Asia. In recent years, there has been a burgeoning number of bilateral investment treaties (BITs) and investment chapters incorporated into bilateral and regional free trade agreements (FTAs) in China. The rapid...

This paper discusses the salient features of arbitration in East Asia through case studies from Japan and China. It illustrates the recent trends of arbitration development in East Asia. It then describes how the present state of the law and practice came to be in China and Japan by examining...

While there are ongoing the debates on the appropriateness of arbitrators acting as mediators in a pending arbitration (this process is often described as ‘arb-med'), such practice seems to work well in China. In this respect, the Chinese model may be useful in contributing to the practice in...

Working Group 3 (WG3) of the Task Force on Mixed Mod Dispute Resolution explores the topic of mediators using non-binding evaluations and making settlement proposals as a form of mixedmode dispute resolution. Mediators employing such techniques might express their assessment of the strength of a...