{"title":"How Much Difference in Earthquake Risk among China’s Areas: A Study based on Pricing a Seismic Catastrophe Bond","authors":"Yong Zhang, Wei Liu","doi":"10.6025/jdim/2023/21/1/18-23","DOIUrl":null,"url":null,"abstract":": According to China's earthquake magnitude data from 1970-2009, we employed the extreme value distribution model to analyze the difference of annual maximum magnitude between China's major earthquake-prone provinces. By a stochastic simulation method, we give an example of pricing catastrophe bonds in earthquake-prone areas. It shows that the potential risk varied widely in different regions. As a conclusion, we suggest establishing a multi-level seismic risk financing mechanism, and it should be established in some special areas firstly.","PeriodicalId":197165,"journal":{"name":"Journal of Digital Information Management","volume":"8 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Digital Information Management","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.6025/jdim/2023/21/1/18-23","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
: According to China's earthquake magnitude data from 1970-2009, we employed the extreme value distribution model to analyze the difference of annual maximum magnitude between China's major earthquake-prone provinces. By a stochastic simulation method, we give an example of pricing catastrophe bonds in earthquake-prone areas. It shows that the potential risk varied widely in different regions. As a conclusion, we suggest establishing a multi-level seismic risk financing mechanism, and it should be established in some special areas firstly.
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