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Original scientific paper
https://doi.org/10.17559/TV-20180529125449

A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size

Çiğdem Özari   ORCID icon orcid.org/0000-0002-2948-8957 ; İstanbul Aydın University, İstanbul, Turkey
Özge Eren   ORCID icon orcid.org/0000-0002-3850-818X ; İstanbul Aydın University, İstanbul, Turkey
Hasan Saygin ; İstanbul Aydın University, İstanbul, Turkey

Fulltext: english, pdf (1 MB) pages 1292-1296 downloads: 328* cite
APA 6th Edition
Özari, Ç., Eren, Ö. & Saygin, H. (2019). A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size. Tehnički vjesnik, 26 (5), 1292-1296. https://doi.org/10.17559/TV-20180529125449
MLA 8th Edition
Özari, Çiğdem, et al. "A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size." Tehnički vjesnik, vol. 26, no. 5, 2019, pp. 1292-1296. https://doi.org/10.17559/TV-20180529125449. Accessed 17 Jun. 2021.
Chicago 17th Edition
Özari, Çiğdem, Özge Eren and Hasan Saygin. "A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size." Tehnički vjesnik 26, no. 5 (2019): 1292-1296. https://doi.org/10.17559/TV-20180529125449
Harvard
Özari, Ç., Eren, Ö., and Saygin, H. (2019). 'A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size', Tehnički vjesnik, 26(5), pp. 1292-1296. https://doi.org/10.17559/TV-20180529125449
Vancouver
Özari Ç, Eren Ö, Saygin H. A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size. Tehnički vjesnik [Internet]. 2019 [cited 2021 June 17];26(5):1292-1296. https://doi.org/10.17559/TV-20180529125449
IEEE
Ç. Özari, Ö. Eren and H. Saygin, "A New Methodology for the Block Maxima Approach in Selecting the Optimal Block Size", Tehnički vjesnik, vol.26, no. 5, pp. 1292-1296, 2019. [Online]. https://doi.org/10.17559/TV-20180529125449

Abstracts
The Block Maxima method divides sample data into equal blocks. Predictions are based on the maximum values of the observations. Choosing an efficient and proper block size for the Block Maxima method is an important issue and varies across fields (e.g., flood, rainfall, finance). However, the main problem is deciding which block size is suitable or optimal for the prediction. In the literature, it is a known fact that the selection of a small block size leads to bias, while the selection of a large block size leads to a variance problem. In one respect, this issue is any trade off problem between the bias and the variance. This paper proposes simple and easy computational method to specify the optimal block size selection process for the Block Maxima method.

Keywords
Block Maxima; Extreme Value Theory; Maximum Likelihood

Hrčak ID: 226011

URI
https://hrcak.srce.hr/226011

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