The POT model described by the generalized Pareto distribution with Poisson arrival rate

Abstract

The use of the peaks over threshold (POT) model described by the generalized Pareto distribution with Poisson arrival rate, which results in the generalized extreme value (GEV) distribution for the annual maximum (AM) series for flood frequency analysis, is discussed. Estimation of the generalized Pareto distribution by the method of probability weighted moments (PWM) is formulated for both known and unknown thresholds. The effect of raising the threshold of the POT series on high quantile estimation is investigated. A comparison of the efficiencies of the POT and AM models in high quantile estimation is made. It is shown that the threshold of the POT series can be raised to a reasonably hig..