I am a master's student and have just started reading research papers regularly for the first time. I usually browse articles on arXiv.
One of the main difficulties I've run into is figuring out what's important and what isn't. Usually I read new articles (e.g. published within the last few years), and so I struggle to determine whether the contribution of the article is important or whether it's just a minor thing that will soon be forgotten.
If it's an old paper, then I know that if it's been cited in future works and if its work has been expanded on, then it was obviously an important paper. But what do I do with new papers?
For example, right now I am attempting to digest a 2018 paper called
"Explicit Heston solutions and stochastic approximation for path-dependent option pricing" https://arxiv.org/pdf/1907.00219.pdf
It's about circumventing the issues with the LSM algorithm and providing new means of simulating the Heston model without bias.
To me, it sounds super cool, but how do I figure out how crucial their contribution is to other people in the field?