I have absolutely no idea who any of these people are. My extremely limited understanding of economics means I can only understand the executive-level summaries you provide of each of their work, and barely understand it at that. (The fact that I’m skimming this at 4:45 AM while torn between insomnia and dread of work is probably not helping.)
But I love to see someone who has very strong, very studied, very sourced opinions on a niche topic like this, and it being an important subject like economics makes it all the better. I loved reading this.
I enjoyed reading this essay. I have (or used to have) quite a bit of expertise in estimating BLP95 kind of models. I knew the other papers, but I never saw them explained as a whole.
I agree with you that there is no BLP95 without Berry94. Berry94 seems like such a simple idea once you read it (but not before!). One of my favourite papers in empirical IO.
I also find it peculiar that BLP95 was incredibly influential but the literature only took off once Nevo came and applied it to a completely different industry (rte cereal instead of cars). Everyone just got it. I also remember Nevo had some matlab code in his website showing people how to estimate this stuff. This is also a reminder how it is much easier to understand econometrics from code than from the theoretical math exposition.
It’s possible that Nevo was the evangelist. Certainly seems plausible. These sorts of things always take six years to publish anyway, though, so still consistent with diffusion from a source.
I have absolutely no idea who any of these people are. My extremely limited understanding of economics means I can only understand the executive-level summaries you provide of each of their work, and barely understand it at that. (The fact that I’m skimming this at 4:45 AM while torn between insomnia and dread of work is probably not helping.)
But I love to see someone who has very strong, very studied, very sourced opinions on a niche topic like this, and it being an important subject like economics makes it all the better. I loved reading this.
I enjoyed reading this essay. I have (or used to have) quite a bit of expertise in estimating BLP95 kind of models. I knew the other papers, but I never saw them explained as a whole.
I agree with you that there is no BLP95 without Berry94. Berry94 seems like such a simple idea once you read it (but not before!). One of my favourite papers in empirical IO.
I also find it peculiar that BLP95 was incredibly influential but the literature only took off once Nevo came and applied it to a completely different industry (rte cereal instead of cars). Everyone just got it. I also remember Nevo had some matlab code in his website showing people how to estimate this stuff. This is also a reminder how it is much easier to understand econometrics from code than from the theoretical math exposition.
It’s possible that Nevo was the evangelist. Certainly seems plausible. These sorts of things always take six years to publish anyway, though, so still consistent with diffusion from a source.
i strongly agree!
Oh my gosh, me too!
Excellent choices
Piketty? I see Saez...
Saez’s is much more important than Piketty’s.
David J. Teece for your list?
Aidan Toner-Rodgers?
For contributions to the utilization of new technology in the production of scientific papers.
droll.
Rick Ericson is one of the best transition economists around, too -- maybe he should get a look-in?
Simply not broad enough, sorry.
A Nobel to Sam Kortum would certainly include Jonathan Eaton, no? (Kortum, Eaton, Merlitz)
I would enjoy it in 2025 already, although it could be seen as political posturing against Trump's trade policy (that's partially why I like it tbh).
Eaton, unfortunately, passed away last year.
Any reason John List doesn’t make the cut for your long list (unless I missed him)?
I forgot him, and have since thrown him back in.