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- W3122348503 abstract "In this paper, we discuss the application of precipitation contracts by describing several structured precipitation derivatives transactions. We propose, calibrate, and compare three precipitation models: A Gamma distribution, a mixture of exponentials, and kernel density. Based on the data for Chicago Midway Airport (1950-2003), we find that the latter two models dominate the first model inters of fit. The paper fills the gap in the literature and the industry." @default.
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- W3122348503 date "2007-09-22" @default.
- W3122348503 modified "2023-09-28" @default.
- W3122348503 title "Precipitation Modeling and Contract Valuation: A Frontier in Weather Derivatives" @default.
- W3122348503 hasPublicationYear "2007" @default.
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