Box-Cox Distribution Under Power Normalization

In this paper, we introduce a more general extreme value distribution under power normalization (GEVP). The Box-Cox transformation is applied to the generalized Pareto distribution and generalized extreme value distribution under power normalization. A likelihood ratio test is employed to compare these models, with results strongly favoring the newly proposed Box-Cox-GEVP distribution. This approach demonstrates significant improvements in modeling capabilities, offering a robust framework for analyzing extreme value phenomena.