Extreme Value Statistics
Living reference work entry
Definition of the Subject
Extreme value theory is concerned with the statistical properties of the extreme events related to a random variable (see Fig. 1), and the understanding and applications of their probability distributions. The methods and the practical use of such a theory have been developed in the last 60 years; though, many complex real-life problems have only recently been tackled. Many disciplines use the tools of extreme value theory including meteorology, hydrology, ocean wave modeling, and finance to name just a few.
KeywordsExtreme Event Gumbel Distribution Flood Frequency Analysis Random Energy Model Burger Turbulence
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