Graduated of  the ESSEC Advanced Master Urban Management, Environment and Services, class of 1995, Etienne Dupuy supervised the winning thesis of the 2010 AREIM Award. The thesis, titled "Combining Monte-Carlo methods and options for real estate appraisal", was written by Charles-Olivier Amedée- Manesme, student of the Advanced Master in Financial Techniques, class of 2009. It introduces an original approach to evaluate real estate assets based on Monte Carlo simulations of cash flows that include break options embedded in the lease structure.

The award ceremony of AREIM (Association for Research and Studies in Real Estate), was chaired by Michel Perebeau, President of BNP Paribas. The AREIM distinguishes every year thesis and dissertations that use innovative approaches to address current professional issues in real estate.

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