Head of research at the CNRS, professor at the Paris School of Economics
A savings risk specialist, Luc Arrondel is head of research at the French national centre for scientific research (CNRS) and a professor at the Paris School of Economics. He is a member of the "Risques" magazine's scientific council, as well as the education board of the French institute for public financial education (IEFP).
His work is focused on preferences in relation to risk and the future, as well as heritage, retirement and lifecycles. Among other publications, he has co-authored the following:
Luc Arrondel won the Prix Risques-Les Echos 2006 award, with A. Masson and D. Verger, for their research into the measurement of savers' preferences regarding risk and time.
We think that the crisis is making us more risk averse. No, in general what we are seeing is that people only change their personal preferences over the long term. However, it is true that they take their short-term environment into consideration and plan ahead for their financial future. Today, expectations are more pessimistic. If we were able to better distinguish between what is really linked to tastes and preferences on the one hand, and on the other hand, the environment in which households operate, this would make it possible to better understand certain paradoxes between the various countries.
It is always at society’s two extremities that people take the most risks: at the bottom because people have nothing to lose, and at the top because they feel secure.
As a certain number of surveys show, there may be a gap between the risk perceived on a personal level and the risk as it is perceived for others. We tend to overweight the risk for ourselves, while we have quite an accurate view of the overall level of risk…
We can see a general increase in the feeling of a loss of status. However, once again, there is a phenomenon of collective pessimism. In reality, only the latest generation can complain of being less privileged than the previous one
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