Max-Stable Models: Smith and Schlather

This lecture covers the Smith and Schlather max-stable models, where W(x) is randomly chosen on X R and Or(x) is a k-dimensional Gaussian density function. The Smith model discusses the validity of the max-stable model, while the Schlather model explores W(x) = √2 max{(x), 0}. The lecture delves into interpreting these models, computing key values, and discussing their applications.