We derive the asymptotic distribution of the parameters of the \citet{blp} (BLP) model in a many markets setting which takes into account simulation noise under the assumption of overlapping simulation draws. We show that as long as the number of simulation draws $R$ and the number of markets...

The coastal region in mainland China experiences typhoon wind hazard and risk. Since historical surface observations are scarce and of short period, the hazard assessment is often carried out using the typhoon wind field and track models. For a few major cities in the coastal region, there are...