US Patent 7231299 Method, program, and system for estimating weather risk
Patent 7231299 was granted and assigned to Hitachi on June, 2007 by the United States Patent and Trademark Office.
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The amount of risk in weather derivatives is calculated properly by taking into account a correlation between weather observation sites and a correlation between meteorological elements. A weather prediction method by creating a weather scenario from historical weather data includes a first step of estimating parameters of a weather time-series model based on historical weather data including past plural meteorological elements, a meteorological element correlation between sites, and a correlation between meteorological elements, and a second step of converting random numbers into meteorological elements based on the estimated parameters. The second step is executed a given number of times to create a plurality of weather scenarios.
US Patent 07231299 Method, program, and system for estimating weather risk US Patent 7231299 Method, program, and system for estimating weather risk
US Patent 07231299 Method, program, and system for estimating weather risk
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