Résumé
We propose a micro economic model that aims to describe how individuals choose to adopt or not a protection measure against a risk by taking into account people's experience of the risk and the social interactions. It is derived from a dynamic aggre- gate model that explains the evolution of the adoption rate of a protection measure within a population [6]. Some behavioural implications of the micro economic model are presented. In particular, we show that the aggregate model can be explained by heterogeneous and sometimes unintuitive individual decision-making processes. Especially, our model implies that the expected loss has a positive effect on the utility of agents who were not previously protected and that the utility of adaptation of people who renew a protection behaviour increases with the price of the measure. We nally discuss the empirical testability of the model