The Time-Scaling Issue in the Frequency Analysis of Multidimensional Extreme Events
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potential and for reconstructing past flood series using a small set of climate and other predictors is also explored. Conditioned on the seasonal flood forecasts and streamflow forecasts, the flood rule curve and the operating rules of the reservoir are modified to evaluate the additional benefits the seasonal flood forecasts offer in improving the reservoir operation over the currently pursued approach of constant/static flood rule curve. The benefits of seasonal flood forecasts in relation to the seasonal streamflow forecasts are quantified and their potential utility in flood premium and insurance setting is also discussed.