Enrico De Giorgi

Enrico De Giorgi is Professor of Mathematics and Director at the Department of Mathematics and Statistics at the University of St.Gallen. Professor De Giorgi is a Partner at Behavioral Finance Solutions, a UNISG– UZH spin-off that provides financial firms with decision-making tools based on behavioral finance principles.

Expertise

Professor De Giorgi is seeking ways in which scientifically founded behavioral finance research can be applied to real-world decision-making, and through his study of the specifics of longevity risk and retirement planning he highlights several key facts. First, persistently optimistic individuals, as well those who are more likely to change their sentiment from pessimistic to optimistic than otherwise, tend to underestimate their life expectancy at young ages and to overestimate it at old ages. Second, the gender gaps observed in both financial literacy and in longevity perception may contribute an explanation as to why women tend to be less financially prepared for retirement than men. These findings call for behavioral perspectives when designing insurance products in order to ensure that individuals allocate sufficient resources for their post-retirement consumption.