Extreme events are critical in risk analysis in the fields such as finance, insurance, climate change and hydrology. Examples are maxima of temperature, wind speed, insurance claims, financial loss, and flood level. Extreme value theory plays a central role in risk management, extreme value modeling, and strategic adaptation. This book covers the latest applications of extreme value modeling and risk analysis. The book uses advanced statistical methodologies to demonstrate difference between extreme observations and the mean state data.
Extreme events are critical in risk analysis in the fields such as finance, insurance, climate change and hydrology. Examples are maxima of tempera...