IDEAS FOR VISUALIZING RISKY FUTURES BASED ON ENSEMBLES OF STOCHASTIC SIMULATIONS
To provide insight into such questions, I use recurrence relations to generate stochastic simulations of hazardous processes. For example, a recurrence model for Brandywine Creek can be used to generate a sequence of maximum annual floods for a given period of time. However, a single simulation is just one possible "future" of indeterminate significance. Ensembles of large numbers of simulations demonstrate important features of the recurrence of floods and other hazards. I introduce students to the concept of stochastic simulation with reference to graphical models of recurrence probability such as dartboards (Lutz, JGE, 2001) that can be understood without formal training in the statistics of extreme value distributions. The main advantage of simulations is that they create intuitive, visual representations of the underlying probability model. Simulations can be incorporated into spreadsheets so that students can set up, create, and interpret their own ensembles. The presentation includes examples based on the statistics of floods, earthquakes, and a simplified cost-benefit scenario.