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Modeling the Tail Distribution and Ratemaking: An Application of Extreme Value Theory
Arne Bathke and
Jerry R. Skees
2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Economic analysis of weather risk often depends on accurate assessment of the probability (P) of tail quantiles (Q). Extreme value theory can provide a promising estimation of the tail part risk and this paper intends to apply the extreme value model to estimate the tail risk on India excess rainfall.
Keywords: Research Methods/ Statistical Methods (search for similar items in EconPapers)
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