- Author
- Lechner, J. A. | Leigh, S. D. | Simiu, E.
- Title
- Recent Approaches to Extreme Value Estimation With Application to Wind Speeds. Part 1. The Pickands Method.
- Coporate
- National Institute of Standards and Technology, Gaithersburg, MD
- Journal
- Journal of Wind Engineering and Industrial Aerodynamics, Vol. 41, No. 44, 509-519, 1992
- Sponsor
- National Science Foundation, Washington, DC
- Contract
- NSF-MSM-9013116
- Keywords
- wind velocity
- Identifiers
- conditional mean exceedance (CME) slope; Pickands method; Generalized Pareto Distribution (GPD)
- Abstract
- The last 15 years have seen the development of a new body of theory and of a new generation of statistical estimation procedures applicable to extreme data. Essentially these approaches emphasize the primacy of the information concerning the largest of the extremes (the tails), as opposed to information inherent in the bulk of the extreme data (the body of the distribution). One potentially attractive feature of some of these approaches is that, in principle, they make it possible to ascertain whether the distribution that best fits a given set of extreme data has a finite tail.