Drought risk probabilistic models based on extreme value theory.

Arkadiusz Piwowar1, Łukasz Kuźmiński2

  • 1Department of Economics and Organization of Food Economy, Wroclaw University of Economics and Business, Komandorska Street 118/120, 53-345, Wrocław, Poland. arkadiusz.piwowar@ue.wroc.pl.

Summary

This study introduces new probabilistic models to measure drought risk using generalized distribution functions and the standardized precipitation index. These models offer an innovative approach for quantifying drought and can be applied globally.

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