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Mesurer les préférences individuelles à l'égard du risque

Author

Listed:
  • Luc Arrondel

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

  • André Masson

    (PJSE - Paris-Jourdan Sciences Economiques - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique)

  • Daniel Verger

    (Institut national de la statistique et des études économiques (INSEE))

Abstract

Sensibles aux dimensions plurielle et variées des comportements face au risque, les développements récents de la microéconomie de l'incertain multiplient à l'envi le nombre de paramètres individuels de préférence - aversion au risque, prudence, tempérance, aversion à la perte, etc. - pour en rendre compte. De même, les études expérimentales ou de terrain cherchent à cerner cette diversité en distinguant différents types de risques - à petits ou gros enjeux, de gains ou de pertes, aux conséquences irréversibles ou non - et décrivent des comportements qui dépendent du domaine concerné (financier, professionnel ou de la santé, par exemple) et des effets de contexte. À partir d'un questionnaire spécifique, posé à un sous-échantillon de l'enquête de l'Insee Patrimoine 1998 et qui balaie un large éventail de domaines de la vie, de situations ou de contextes, et de type de risques, on propose, paradoxalement, de rendre compte de cette richesse des attitudes vis-à-vis du risque de chaque individu par un indicateur unique, purement ordinal : à l'ensemble des réponses apportées par chaque enquêté, on fait correspondre un score, mesure synthétique supposée représentative de la palette de ces préférences à l'égard du risque. Plusieurs éléments ont permis de vérifier le bien fondé de cette approche. Si l'on se fie à leurs propres déclarations en les invitant à se positionner sur des échelles entre 0 (prudent) et 10 (aventureux), on constate que les enquêtés acceptent de prendre davantage de risques en matière de consommation et de loisirs ou sur le plan professionnel que par rapport à la santé ou la famille, mais que les écarts demeurent limités, avec des corrélations des échelles par domaine avec l'échelle globale supérieures à 0,5. Surtout, le haut degré de cohérence interne du score atteste, ex post, la pertinence d'une mesure globale en dépit de la diversité des attitudes à l'égard du risque pour un même individu.

Suggested Citation

  • Luc Arrondel & André Masson & Daniel Verger, 2005. "Mesurer les préférences individuelles à l'égard du risque," Post-Print halshs-00754086, HAL.
  • Handle: RePEc:hal:journl:halshs-00754086
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    3. Delprat, G. & Leroux, M.-L. & Michaud, P.-C., 2016. "Evidence on individual preferences for longevity risk," Journal of Pension Economics and Finance, Cambridge University Press, vol. 15(2), pages 160-179, April.

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