AI Summary & Key Takeaways
AI InsightThis study aims to identify and fit the appropriate extreme value distribution to loss data by using the method of Hill estimation technique.
📌 3 Key Takeaways
Abstract
Extreme value theory (EVT) is a tool used to consider probabilities associated with extreme and rare events. This paper is related with extreme events which usually appear with low frequently but high effects. It has been applied in various fields such as hydrology, as well as in studies of pollution, meteorology but in recent years, it is mainly used in the financial areas. General concepts of EVT is presented by a hypothetical case study. It is about fraud events in a Bank during specific time. This study aims to identify and fit the appropriate extreme value distribution to loss data by using the method of Hill estimation technique.
Özet
Bu çalışmada, az sıklıkta gerçekleşen ancak etkisi kuvvetli olan olayların ortaya çıkabilme