Modeling Temperature and Pricing Weather Derivatives Based on Temperature

Table 6

values of parameters for CDD calculations.

City	A	B	C	Phase	Gamma_0	Gamma_1	Fast_Mean	Slow_Mean
Ankara	0	0	0	0	NS	0.00263	0.1609	0
Antalya	0	0	0	0	NS	NS	0.3143	0.7321
Beijing	0	NS	0	0	NS	0	0.096	0
Bursa	0	0	0	0	NS	NS	0.3216	0
Cairo	0	0	0	0	NS	NS	0.6717	0.001395
Chicago	0	NS	0	0	<0.01	0	0.03218	0
Dallas	0	0	0	0	NS	NS	0.01897	0
Istanbul	0	0	0	0	NS	NS	0.7978	0
Los Angeles	0	0	0	0	NS	NS	0.02789	0
New York	0	<0.001	0	0	NS	<0.001	0.2038	0
Paris	0	0	0	0	NS	<0.01	0.3038	0.8347
Sydney	0	<0.01	0	0	NS	NS	0	0.0056
Tokyo	0	<0.01	0	0	NS	<0.01	NA	NA
Washington	0	0	0	0	NS	<0.001	0.009	0

NS: not statistically significant.
NA: not available.