OpenQuake 0.5 Risk Wesson_et_al_Calculator

Wesson et all approach represents a direct method for the calculation of the annual frequency of exceedance of a certain earthquake loss. This method parallels the classic method of probabilistic seismic hazard analysis for the calculation of the annual frequency of exceedance for earthquake ground motions. The method assumes conditional independence of the random component of ground motions and losses at different sites for each earthquake, given magnitude, distance to the sites, and so-called interevent epsilon. The main advantage of this method is that it does not require a separate set of scenario earthquakes, as do Monte Carlo-based approaches and the main drawback, is the fact that it does not take into account the spatial correlation of the ground motion (intra-event correlation)

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