A comparison of the uncertainty of parameter estimation methods using annual extreme precipitation in the Taihu Basin of China

The potential damage caused by coastal flooding is increasing due to sea-level rise and coastal development. Flood control planning is of greater importance in coastal areas. In this paper, annual extreme precipitation in the Taihu Basin of China was used to investigate the difference between two commonly used parameter estimation methods, the method of Conventional Moments (CM) and the method of Lmoments (LM). Generalized Extreme Value (GEV) distribution was used to describe the extreme rainfall events. The robustness and unbiasedness of the two parameter estimation methods were evaluated. Monte Carlo simulation was applied to compute the confidence bounds quantifying the uncertainty resulting from the use of these two methods.