So I'm reading Rubinstein's History of the Theory of Investments, which for PhD finance type is a great book. He also notes the spectacular nature of this achievement, saying:
he shows that for certain other specific combinations of powers, closed-form results are possible. He then asks how the results are qualitatively different from an economy with a CRRA representative agent.
Gee, 10 years later, and that's all he can say. Clearly, there weren't any really interesting differences found, or they would have been mentioned. I would call that a dead end. He just got a closed form, and everyone clapped. It reminds me of articles that show 'a rich class of models', as if interesting applications are left as an exercise for the reader.
Why was I born with such contemporaries?