¥Considering only annual extreme is probably not the best use of the available data resource
–r-largest techniques (r
> 1)
–peaks-over-threshold
approach (model exceedence process and exceedences)
¥Some potential issues include
–ÒclusteringÓ
–Cyclostationary rather
than stationary nature of many observed series
¥Has implications for both exceedence process and representation of exceedences