A hierarchical Bayes model for rainfall with applications to index insurance

Our own Kenny Shirley spoke at the Bayes meeting on this stuff. As is often the case in applied work, what’s interesting here isn’t so much the model–which is enough to get the job done–but how it fits into the larger policy goals (which in this case involve quantifying uncertainty, a natural fit for Bayesian methods).

1 thought on “A hierarchical Bayes model for rainfall with applications to index insurance

  1. Thanks for posting this. I had not seen it and I found it interesting. I've been working with index insurance since the Enron days.

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