Any contribution that actually solves a real life problem will need to solve a relatively "small" problem. That is exactly how market design works; details matter. But some of this work already saved hundreds, if not thousands of lives; and that's quite more than lives saved by some of the more celebrated theory work in 80s etc.
Which is the greatest theory paper in the last 10 years?

Any contribution that actually solves a real life problem will need to solve a relatively "small" problem. That is exactly how market design works; details matter. But some of this work already saved hundreds, if not thousands of lives; and that's quite more than lives saved by some of the more celebrated theory work in 80s etc.
Undergrad here. Care to provide links to those "life saving" papers?

Any contribution that actually solves a real life problem will need to solve a relatively "small" problem. That is exactly how market design works; details matter. But some of this work already saved hundreds, if not thousands of lives; and that's quite more than lives saved by some of the more celebrated theory work in 80s etc.
Undergrad here. Care to provide links to those "life saving" papers?Google "kidney exchange".

An important paper for mathturbators is Yeneng Sun 2006, "The exact law of large numbers via Fubini extension and characterization of insurable risks", JET. It's the first paper that actually gives a law of large number for continuum populations and shows how to model ideosyncratic risk correctly.
A conceptualy great paper is Ariel Rubinstin & Michele Piccione 2007, "Equilibrium in the Jungle", EJ. The paper makes one rethink the basic welfare theorems.

The GulPesendorfer temptation model and the Levin reputational contract paper are both highly cited, highly influential, and written since 2000. For things written in the last couple years, it's hard to say what the eventual impact will be, right? A bunch of work on behavioral decision theory, Athey's single crossing property paper, AcemogluRobinson's theory of transitions paper, some relatively new work on dynamic and multidimensional mechanisms, Melitz 2008 RES on trade, and lots of work on financial bubbles and debt contagion (a lot of which was done before 2007) are good as well.