Which theory results published during the past 50 years do you think people will still talk about in 2050? (If your answer is none, please don’t waste everyone’s time by posting.)
Recent economic theory that will stand the test of time
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I think the relational contracting literature, of which the seminal papers are recent, will hold up well.
Seminal paper wasn't published in the last 50 years.
Macleod and Malcomson, Levin, Fuchs…two are after 2000
Seminal paper is .R. Macneil, “Whither Contracts?” (1969) 21 Journal of Legal Education 403.
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OK if you really mean 50 years, here are a few that jumps to mind: Crawford and Sobel strategic communication, Gul and Pesendorfer temptation and self control, Kamenica and Gentzkow Bayesian Persuasion.
I thought the proof in Crawford and Sobel turned out to be wrong, though. I could be miseremembering, though.
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OK if you really mean 50 years, here are a few that jumps to mind: Crawford and Sobel strategic communication, Gul and Pesendorfer temptation and self control, Kamenica and Gentzkow Bayesian Persuasion.
I thought the proof in Crawford and Sobel turned out to be wrong, though. I could be miseremembering, though.
https://onlinelibrary.wiley.com/doi/full/10.3982/ECTA17617
which just goes to show that we will be talking about errors in theory papers even 40 years later, even though correct results might have fallen out of fashion.