Curriculum vitae

Jouini Elyès

Full Professor
CEREMADE

jouiniping@ceremade.dauphinepong.fr
Phone : 01 44 05 42 26
Office : A 704
Personal URL

Biography

Elyès Jouini works at the interface of mathematics, economics and finance. His research interests focus on financial economics, and in particular on transaction costs, heterogeneity of beliefs, aggregation, long-term risk and term structure of interest rates.

After initial work on general equilibrium theory, he became interested in modelling financial markets by incorporating economic and financial dimensions as well as dimensions from other disciplines such as psychology and sociology.

Latest publications

Articles

Breda T., Jouini E., Napp C. (2023), Gender differences in the intention to study math increase with math performance, Nature Communications , vol. 14, p. 1-12

Bianchi M., Dana R-A., Jouini E. (2022), Shareholder heterogeneity, asymmetric information, and the equilibrium manager, Economic Theory, vol. 73, p. 1101-1134

Bianchi M., Dana R-A., Jouini E. (2022), Equilibrium CEO Contract with Belief Heterogeneity, Economic Theory, vol. 74, p. 505-546

Jouini E. (2022), Belief dispersion and convex costs of adjutment in the stock market and in the real economy, Management Science

Beddock A., Jouini E. (2021), Live fast, die young: equilibrium and survival in large economies, Economic Theory, vol. 71, p. 961–996

Jouini E. (2020), Equilibrium pricing and market completion: a counterexample, Economics Bulletin, vol. 40, n°3, p. 1963-1969

Breda T., Jouini E., Napp C., Thebault G. (2020), Gender stereotypes can explain the gender-equality paradox, PNAS - Proceedings of the National Academy of Sciences of the United States of America, vol. 117, n°49, p. 31063-31069

Jouini E. (2019), Tarifer un risque dont l'intensité est diversement perçue, Revue d'économie financière, vol. 2019/1, n°133, p. 21-43

Jouini E., Napp C. (2018), The Impact of Health-Related Emotions on Belief Formation and Behavior, Theory and Decision, vol. 84, n°3, p. 405-427

Jouini E., Karehnke P., Napp C. (2018), Stereotypes, underconfidence and decision-making with an application to gender and math, Journal of Economic Behavior & Organization, vol. 148, p. 34-45

Breda T., Jouini E., Napp C. (2018), Societal inequalities amplify gender gaps in math, Science, vol. 359, n°6381, p. 1219-1220

Jouini E. (2017), Théorie de la décision, techniques de l'ingénieur

Jouini E., Napp C. (2016), Live Fast, Die Young, Economic Theory, vol. 62, n°1, p. 265–278

Jouini E., Napp C. (2015), Subjective expectations and medical testing, Economics Letters, vol. 135, p. 39-41

Jouini E., Napp C. (2015), Gurus and belief manipulation, Economic Modelling, vol. 49, p. 11-18

Napp C., Jouini E. (2014), How to aggregate experts' discount rates: An equilibrium approach, Economic Modelling, vol. 36, p. 235–243

Jouini E., Saïdane D. (2014), La situation post-révolution en Tunisie : l'Etat, le financement de l'économie et le système bancaire, Techniques financières et développement, vol. 2014/3, n°116, p. 17-25

Jouini E., Karehnke P., Napp C. (2014), On Portfolio Choice with Savoring and Disappointment, Management Science, vol. 60, n°3, p. 796-804

Jouini E. (2014), Foreword to the special issue devoted to Professor Ivar Ekeland’s 70th birthday, Mathematics and Financial Economics, vol. 8, n°4, p. 321-325

Jouini E., Nocetti D., Napp C. (2013), Economic consequences of Nth-degree risk increases and Nth-degree risk attitudes, Journal of Risk and Uncertainty, vol. 47, n°2, p. 199-224

Campi L., Porte V., Jouini E. (2013), Efficient portfolios in financial markets with proportional transaction costs, Mathematics and Financial Economics, vol. 7, n°3, p. 281-304

Jouini E., Napp C. (2013), On Multivariate Prudence, Journal of Economic Theory, vol. 148, n°3, p. 1255-1267

Napp C., Jouini E., Nocetti D. (2013), The marginal propensity to consume and multidimensional risk, Economics Letters, vol. 119, n°2, p. 124-127

Nocetti D., Jouini E., Napp C. (2013), Collective risk aversion, Social Choice and Welfare, vol. 40, n°2, p. 411-437

Jouini E., Napp C., Viossat Y. (2013), Evolutionary beliefs and financial markets, Review of Finance, vol. 17, n°2, p. 727-766

Napp C., Jouini E. (2012), Behavioral Biases and the Representative Agent, Theory and Decision, vol. 73, n°1, p. 97-123

Napp C., Malamud S., Jouini E., Cvitanic J. (2012), Financial Markets Equilibrium with Heterogeneous Agents, Review of Finance, vol. 16, n°1, p. 285-321

Jouini E., Napp C. (2011), Unbiased Disagreement in financial markets, waves of pessimism and the risk return tradeoff, Review of Finance, vol. 15, n°3, p. 575-601

Napp C., Jouini E., Marin J-M. (2010), Discounting and Divergence of Opinion, Journal of Economic Theory, vol. 145, n°2, p. 830-859

Napp C., Jouini E. (2008), Are More Risk-Averse Agents More Optimistic ? Insights from a Rational Expectations Model, Economics Letters, vol. 101, n°1, p. 73-76

Jouini E., Ben Mansour S., Napp C., Marin J-M., Robert C. (2008), Are Risk-Averse Agents more Optimistic? A Bayesian Estimation Approach, Journal of Applied Econometrics, vol. 23, n°6, p. 843-860

Chazal M., Jouini E., Tahraoui R. (2008), Production Planning and Inventories Optimization: A Backward Approach in the Convex Storage Cost Case, Journal of Mathematical Economics, vol. 44, n°9-10, p. 997-1023

Chazal M., Jouini E. (2008), Equilibrium Pricing Bound on Option Prices, Mathematics and Financial Economics, vol. 1, n°3-4, p. 251-281

Jouini E., Touzi N., Schachermayer W. (2008), Optimal Risk Sharing for Law Invariant Monetary Utility Functions, Mathematical Finance, vol. 18, n°2, p. 269-292

Jouini E., Napp C. (2008), On Abel's Concepts of Doubt and Pessimism, Journal of Economic Dynamics & Control, vol. 32, n°11, p. 3682-3694

Nocetti D., Napp C., Jouini E. (2008), Properties of the Social Discount Rate in a Benthamite Framework with Heterogeneous Degrees of Impatience, Management Science, vol. 54, n°10, p. 1822-1826

Jouini E., Napp C. (2007), Consensus Consumer and Intertemporal Asset Pricing with Heterogeneous Beliefs, The Review of Economic Studies, vol. 74, n°4, p. 1149-1174

Jouini E., Nayaradou M. (2007), Risques : prise de décision individuelle et collective, Risques. Les cahiers de l'assurance, n°72, p. 137-138

Jouini E. (2007), La crise des subprimes ou l'irruption des particuliers dans la sphère financière, Risques. Les cahiers de l'assurance, n°72, p. 139-140

Napp C., Jouini E. (2006), Heterogeneous Beliefs and Asset Pricing in Discrete Time : an Analysis of Pessimism and Doubt, Journal of Economic Dynamics & Control, vol. 30, n°7, p. 1233-1260

Jouini E., Ben Mansour S., Napp C. (2006), Is There a Pessimistic Bias in Individual Beliefs? Evidence from a Simple Survey, Theory and Decision, vol. 61, n°4, p. 345-362

Napp C., Jouini E. (2006), Aggregation of Heterogeneous Beliefs, Journal of Mathematical Economics, vol. 42, n°6, p. 752-770

Jouini E., Napp C. (2006), Arbitrage with Fixed Costs and Interest Rate Models, Journal of Financial and Quantitative Analysis, vol. 41, n°4, p. 889-913

Napp C., Jouini E. (2005), Arbitrage and state price deflators in a general intertemporal framework, Journal of Mathematical Economics, vol. 41, n°6, p. 722-734

Jouini E., Bizid A. (2005), Equilibrium Pricing in Incomplete Markets, Journal of Financial and Quantitative Analysis, vol. 40, n°4, p. 833-848

Napp C., Jouini E. (2004), Conditional Comonotonicity, Decisions in Economics and Finance, vol. 27, n°2, p. 153-166

Napp C., Jouini E. (2004), Hétérogénéité des croyances, prix du risque et volatilité des marchés, Revue d'économie financière, n°74, p. 125-138

Napp C., Jouini E. (2004), Convergence of utility functions and convergence of optimal strategies, Finance and Stochastics, vol. 8, n°1, p. 133-144

Touzi N., Meddeb M., Jouini E. (2004), Vector-valued Coherent Risk Measures, Finance and Stochastics, vol. 8, n°4, p. 531-552

Jouini E. (2003), Convergence of the equilibrium prices in a family of financial models, Finance and Stochastics, vol. 7, n°4, p. 491-507

Jouini E., Napp C. (2003), A Class of Models satisfying a Dynamical Version of the CAPM, Economics Letters, vol. 79, n°3, p. 299-304

Jouini E., Tharaoui R., Chazal M. (2003), Production planning and inventories optimization with a general storage cost function, Nonlinear Analysis, vol. 54, n°8, p. 1365– 1395

Napp C., Jouini E. (2003), Comonotonic Processes, Insurance: Mathematics and Economics, vol. 32, n°2, p. 255-265

Jouini E., Kallal H. (2001), Efficient Trading Strategies in the Presence of Market Frictions, The Review of Financial Studies, vol. 14, n°2, p. 343-369

Jouini E. (2001), Arbitrage and control problems in finance: A presentation, Journal of Mathematical Economics, vol. 35, n°2, p. 167-183

Jouini E., Kallal H., Napp C. (2001), Arbitrage and viability in securities markets with fixed trading costs, Journal of Mathematical Economics, vol. 35, n°2, p. 197-221

Jouini E., Napp C. (2001), Arbitrage and investment opportunities, Finance and Stochastics, vol. 5, n°3, p. 305-325

Jouini E., Bizid A. (2001), Incomplete markets and short-sales constraints : An equilibrium approach, International Journal of Theoretical and Applied Finance, vol. 4, n°2, p. 211-243

Jouini E. (2000), De l'émergence de nouveaux marchés à celles de nouvelles démarches, Finances et développement au Maghreb, n°25

Jouini E. (2000), Generalized Lipschitz functions, Nonlinear Analysis, vol. 41, n°3-4, p. 371-382

Jouini E., Carassus L. (2000), A discrete stochastic model for investment with an application to the transaction costs case, Journal of Mathematical Economics, vol. 33, n°1, p. 57-80

Jouini E. (2000), Price functionals with bid–ask spreads : an axiomatic approach, Journal of Mathematical Economics, vol. 34, n°4, p. 547-558

Touzi N., Koehl P-F., Jouini E. (2000), Optimal investment with taxes : an existence result, Journal of Mathematical Economics, vol. 33, n°4, p. 373-388

Jouini E., Kallal H. (1999), Viability and equilibrium in securities markets with frictions, Mathematical Finance, vol. 9, n°3, p. 275–292

Touzi N., Koehl P-F., Jouini E. (1999), Optimal investment with taxes : an optimal control problem with endogeneous delay, Nonlinear Analysis, vol. 37, n°1, p. 31-56

Jouini E. (1998), Mathématiques et finance, Matapli, vol. 1998

Carassus L., Jouini E. (1998), Investment and arbitrage opportunities with short sales constraints, Mathematical Finance, vol. 8, n°3, p. 169–178

Bizid A., Koehl P-F., Jouini E. (1998), Pricing of non-redundant derivatives in a complete market, Review of Derivatives Research, vol. 2, n°4, p. 287-314

Koehl P-F., Touzi N., Jouini E. (1997), Incomplete markets, transaction costs and liquidity effects, The European Journal of Finance, vol. 3, n°4, p. 325-347

Jouini E. (1996), Unicité et stabilité de l'équilibre dans une économie de production avec règle de tarification marginale : les cas convexe et non-convexe, Annales d'Economie et de Statistique, n°44, p. 159-176

Jouini E. (1996), Produits dérivés, contrôle des risques et réglementation, Revue d'économie financière, vol. 37, n°2, p. 203-220

Jouini E., Kallal H. (1995), Martingales and arbitrage in securities markets with transaction costs, Journal of Economic Theory, vol. 66, n°1, p. 178-197

Kallal H., Jouini E. (1995), Arbitrage in securities markets with short-sales constraints, Mathematical Finance, vol. 5, n°3, p. 197-232

Jouini E. (1995), Les migrations des compétences autour de la Méditerranée, Alliage, vol. 1995, n°24-25

Jouini E. (1993), The graph of the Walras correspondence : The production economies case, Journal of Mathematical Economics, vol. 22, n°2, p. 139-147

Kallal H., Jouini E. (1993), General equilibrium with producers and brokers existence and regularity, Economics Letters, vol. 41, n°3, p. 257-263

Jouini E. (1992), Structure de l'ensemble des équilibres d'une économie productive, Annales de l'Institut Henri Poincaré (C) Analyse non linéaire, vol. 9, n°3, p. 321-336

Jouini E. (1992), An index theorem for nonconvex production economies, Journal of Economic Theory, vol. 57, n°1, p. 176-196

Jouini E. (1992), Existence of Equilibria in Nonconvex Economies without Free Disposal, Economics Letters, vol. 38, n°1, p. 37-42

Jouini E., Kallal H. (1992), Arbitraje en mercados de valores con fricciones, Cuadernos economicos de ICE, vol. 50, p. 91-113

Jouini E. (1990), Functions with constant generalized gradients, Journal of Mathematical Analysis and Applications, vol. 148, n°1, p. 121-130

Jouini E. (1988), A remark on Clarke's normal cone and the marginal cost pricing rule, Journal of Mathematical Economics, vol. 17, n°2-3, p. 309-315

Ouvrages

Jouini E. (2023), Mohamed-Salah Mzali, Au fil de ma vie. Mohamed-Salah Mzali : L'intellectuel et l'homme d'État, Tunis: IRMC, 772 p.

Pastré O., Jouini E. (2009), La finance islamique : une solution à la crise ?, Paris: Economica, 122 p.

Touzi N., Çinlar E., Jouini E., Scheinkman J., Carmona R., Ekeland I. (2004), Paris-Princeton Lectures on Mathematical Finance 2003 Springer, 250 p.

Chapitres d'ouvrage

Jouini E. (2012), Dans l'âme des investisseurs, in Herlin‎, Philippe, Repenser l'économie Eyrolles, p. 111-120

Jouaber K., Jouini E. (2011), La finance islamique est-elle une finance durable?, in Saïdane, Dhafer, La finance durable, ‎une nouvelle finance pour le XXIe siècle?, Paris: Groupe Banque, p. 188

Bouchard B., Jouini E. (2010), Transaction costs in financial model, in Cont, Rama, Encyclopedia of Quantitative Finance Wiley, p. 1976

Schachermayer W., Jouini E., Touzi N. (2006), Law Invariant Risk Measures Have the Fatou Property, in Yamazaki, Akira, Advances in Mathematical Economics, volume 9, Tokyo: Springer, p. 49-71

Ekeland I., Jouini E. (2005), La modélisation économique en économie, in Yoccoz, Jean-Christophe, Les mathématiques dans le monde scientifique contemporain, Paris: Tec & Doc, p. 241-262

Jouini E. (2002), Le prix des options financières, in , L'explosion des mathématiques, Paris: SMF, p. 80-83

Bernis G., Jouini E. (2001), Characterizing the premium at the equilibrium of a reinsurance market with short sale constraints, in Lassonde, Marc, Approximation, optimization and mathematical economics, Heidelberg: Physica-Verlag, p. 47-58

Jouini E., Napp C. (2001), Market models with frictions : arbitrage and pricing issues, in Elyès Jouini, Jaksa Cvitanic, Marek Musiela, Option Pricing, Interest Rates and Risk Management, London: Cambridge University Press, p. 43-66

Napp C., Jouini E. (2001), Arbitrage pricing and equilibrium pricing : compatibility conditions, in Avellaneda, Marco, Quantitative analysis in financial markets : collected papers of the New York University Mathematical Finance Seminar. Volume III, Singapore: World Scientific, p. 131-158

Jouini E. (1997), Market Imperfections , Equilibrium and Arbitrage, in Runggaldier, Wolfgang, Financial Mathematics, Berlin: Springer, p. 247-307

Jouini E. (1997), Arbitrage et imperfections de marché, in Yves Simon, Encyclopédie des marchés financiers, Paris: Economica, p. 112-126

Directions d'ouvrage

Jouini E. (2014), Tunisie, l'Espoir, mode d'emploi pour une reprise Cérès, 280 p.

Jouini E. (2014), Tounes El Amal Cérès

Carmona R., Cinlar E., Ekeland I., Jouini E., Scheinkman J., Touzi N. (2007), Paris-Princeton Lectures on Mathematical Finance 2004, Berlin Heidelberg: Springer, 248 p.

Carmona R., Cinlar E., Ekeland I., Jouini E., Scheinkman J., Touzi N. (2004), Paris-Princeton Lectures on Mathematical Finance 2003, Berlin Heidelberg: Springer, 254 p.

Carmona R., Cinlar E., Ekeland I., Jouini E., Scheinkman J., Touzi N. (2003), Paris-Princeton Lectures on Mathematical Finance 2002, Berlin Heidelberg: Springer, 178 p.

Jouini E., Cvitanic J., Musiela M. (2001), Handbooks in Mathematical Finance : Option pricing, Interest Rates and Risk management, London: Cambridge University Press, 686 p.

Communications sans actes

Napp C., Jouini E. (2012), Behavioral biases and the representative agent, 35th Seminar of the European Group of Risk and Insurance Economics, Toulouse, France

Jouini E., Nocetti D., Napp C. (2012), Economic Consequences of Nth-Degree Risk Increases and Nth-Degree Risk Attitudes, 39th Seminar of the European Group of Risk and Insurance Economists (EGRIE), Palma de Mallorca, Espagne

Jouini E., Napp C. (2009), Unbiased Disagreement and the Efficient Market Hypothesis, Mathematical Institute of the University of Oxford, Nomura Seminar, Oxford, Royaume-Uni

Jouini E., Napp C. (2009), An equilibrium approach for Gamma Discounting, European Economic Association & Econometric Society, Barcelone, Espagne

Jouini E., Napp C. (2007), Equilibres à anticipations rationnelles et information incomplète sur les caractéristiques des autres acteurs, Colloque AMAMEF (Advanced MAthematical MEthods for Finance), Toulouse, France

Jouini E., Napp C. (2007), Financial Markets with Heterogeneous Beliefs, Séminaire de l'Equipe de Probabilités et Statistiques, Paris 13, Paris, France

Napp C., Jouini E. (2007), Attentes Stratégiques, Séminaire Parisien d'Optimisation, Institut Henri Poincaré, Paris, France

Ben Mansour S., Napp C., Jouini E. (2006), Is there a pessimistic bias in individual beliefs ? Evidence from survey data, European Financial Management Symposium, Durham, Royaume-Uni

Ben Mansour S., Napp C., Jouini E. (2006), Is there a pessimistic bias in individual and collective beliefs ? Theory and Evidence, Séminaire Bachelier, Institut Henri Poincaré, Paris, France

Jouini E., Napp C., Robert C., Ben Mansour S., Marin J-M. (2006), Are risk averse agents more optimistic ?, EGRIE, Barcelone, Espagne

Ben Mansour S., Napp C., Jouini E. (2006), Heterogeneous beliefs and asset pricing : an analysis in terms of pessimism, doubt and risk aversion, Séminaire D'Economie, Finance, et Ingénierie Financière, HEC Montréal, Montréal, Canada

Napp C., Jouini E. (2006), Les agents les plus tolérants au risque sont-ils plus pessimistes ? Un modèle d'équilibre à anticipations rationnelles, Séminaire Bachelier, Institut Henri Poincaré, Paris, France

Napp C., Jouini E., Ben Mansour S. (2006), Is There a Pessimistic Bias in Individual Beliefs? Evidence from a Simple Survey, LABSI IV, Workshop on Behavioral Finance, Siena, Italie

Prépublications / Cahiers de recherche

Jouini E., Napp C. (2013), Equilibrium pricing and market completion, 23 p.

Campi L., Jouini E., Porte V. (2011), Efficient trading strategies in financial markets with proportional transaction costs, Paris, Preprints Ceremade, 23 p.

Jouini E., Napp C. (2009), Strategic beliefs, Paris, Cahiers de la Chaire "Les Particuliers face au Risques", 38 p.

Napp C., Jouini E. (2009), Optimal Strategic Beliefs, Paris, Université Paris-Dauphine, 22 p.

Jouini E., Napp C. (2009), Cognitive biases and the representative agent, Preprints Ceremade, 41 p.

Jouini E., Napp C. (2008), Aggregation of Discount Rates: an Equilibrium Approach, Preprints Ceremade, 20 p.

Jouini E., Porte V. (2007), Efficient Trading Strategies with Transaction Costs, Paris, Université Paris-Dauphine, 6 p.

Jouini E., Porte V. (2005), Efficient Trading Strategies, Paris, Université Paris-Dauphine, 29 p.

Rapports

Jouini E. (2018), FILLES ET MATHÉMATIQUES : Déconstruire les mythes sur le genre, Opinions et débats

Pastré O., Jouini E. (2008), Enjeux et opportunités du développement de la finance islamique pour la place de Paris, 135 p.

Editoriaux, directions de revue

Jouini E. (1999), Arbitrage and control problems in finance, Journal of Mathematical Economics, vol. 35, n° 2

Jouini E. (1996), Mathematical Finance - Special issue on market imperfections, Mathematical Finance, vol. 6, n° 2, p. 119-236

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