Globalization is a prominent feature of modern society. However, a by-product of increased transnational business activities, especially foreign investments, is an increased number of disputes. Consequently, investment arbitration has, in recent decades, experienced rapid development and much...

In this article, we analyze the stochastic behavior of crude oil spot prices. We first compared the performance of several probability distributions in fitting crude oil price data, and the results show that the skewed-t distribution performs best in fitting tails than other heavy-tailed...