Statistical Analysis of Threshold Value of Loss due to Floods and Typhoons Using Generalized Pareto Distribution: The Example of Paddy Rice

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Title:	Statistical Analysis of Threshold Value of Loss due to Floods and Typhoons Using Generalized Pareto Distribution: The Example of Paddy Rice
Authors:	Li-Hua Lai;Pei-Hsuan Wu
Contributors:	Department and Graduate Institute of Risk Management and Insurance National Kaohsiung First University of Science and Technology 2, Juoyue Rd., Nantsu, Kaohsiung City Taiwan, R.O.C.;Department of Public Finance Meiho Institute of Technology 23, Pingguang Rd., Neipu, Pingtung City Taiwan, R.O.C
Keywords:	Generalized Pareto Distribution;Extreme Value Theory;Maximum Likelihood Estimation
Date:	2011
Issue Date:	2011-09-23T06:00:30Z (UTC)
Abstract:	This paper apply extreme value theory to determine the over-threshold peaks of the typhoons and = oods data, and then using extreme value theory, the block-mix and peakover-threshold approaches to extreme value modeling which the generalized Pareto distribution is a good approximation in estimation for the tails of crop loss severity distributions of typhoon and = ood in agriculture disasters, and the properties we found are useful in distinguishing and identifying with general and largest losses in the decision making of national capacities for risk D nancing of major agricultural disasters objectively. These results could help the agriculture risk managers to rethink and check the compensation management D tted. This method may be applied to other crops and other countries.
Relation:	Journal of Statistics and Management Systems. Vol. 14 (2011), No. 2, pp. 481–49
Appears in Collections:	[Department of Beauty Science] Papers

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