INDIVIDUALS AT RISK

Scientific project

The modelling and analysis of individual risk behaviour (in the broadest sense) are central to major concrete issues in insurance and finance. For example, such behaviour determines, to a large extent, the demand for insurance and the rules for risk sharing between economic agents. It is for this reason that personal finance is growing fast. This behaviour also influences household debt and savings, the motors of modern economies.

The aim of the Chair is to develop both theoretical and applied teaching and research on the theme of risk and individual behaviour. This transversal project involves CREST-ENSAE and Dauphine teams in a multidisciplinary approach in terms both of techniques and of fields of expertise (financial economics, behavioural finance, experimental finance, decision-making, etc., which can be enriched by inputs coming from psychology, sociology, marketing, etc.).

It is also transversal in terms of the questions raised, which come from finance, insurance, environmental issues, decision-making, etc. For the sake of clarity, the Chair’s research axes are grouped around the following five main themes: 

• individual and collective risk behaviour;
• decision-making in finance and insurance;
• pensions, savings, life cycle, and long-term care insurance;
• the empirical study of inheritance behaviour in response to the financial and property crisis;
• mathematical tools and modelling for finance and insurance.

The Chair’s research team the and its recurrent partners work on all five themes. In addition, each year, a call for projects is launched among the Chair’s collaborators, partners and contacts, to gather proposals for projects related to these five themes.