[lucas_prescott_investment, optimal_growth_uncertainty] Two sequels to rational_expectations by jstac · Pull Request #1070 · QuantEcon/lecture-python.myst

jstac · 2026-09-26T20:19:01Z

New lectures by @thomassargent30, kept together because they link to each other (CI builds with -W, so a dangling {doc} link fails):

lucas_prescott_investment — Investment Under Uncertainty: the full Lucas–Prescott (1971) model with Markov demand shocks
optimal_growth_uncertainty — Optimal Growth Under Uncertainty and Tobin's q: Brock–Mirman (1972) and Sargent (1980) with irreversible investment, including a section on differentiability of the value function at the zero-investment corner
rational_expectations — forward links to the two sequels and a new "Concluding remarks" section

Both new lectures go in the TOC after rational_expectations. Adds 4 bib entries.

Stacked on this PR: the lq_mean_field_games PR, which links to optimal_growth_uncertainty.

Split out of tom_mfg (commit 8bf3b2c) so each lecture can be reviewed separately. Content is unchanged from Tom's commit; only the relevant quant-econ.bib entries and _toc.yml lines are included here.

Merge order: merge this before #1071 (lq_mean_field_games), which is stacked on this branch. Please delete the branch on merge so GitHub retargets #1071 to main. Independent of #1067, #1068, #1069.

🤖 Generated with Claude Code

…ls to rational_expectations Split out of branch tom_mfg (commit 8bf3b2c). Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>

jstac · 2026-09-26T20:30:13Z

TODO before merge: check this lecture against the QuantEcon style guide (writing, code, math, figures, references, doc links, admonitions).

Known item: the new lecture(s) use {code-cell} ipython; these should be {code-cell} ipython3.

github-actions · 2026-09-26T20:36:12Z

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- {cite} -> {cite:t} where the authors are part of the sentence - Captions for the main-text figures - \mathbb{E} / \mathbb{P} for expectation and probability - optimal_growth_uncertainty: shock bounds \underline r / \bar r (were \alpha / \beta_r, which clashed with the capital share and the discount factor), with fixed points \underline k / \bar k to match lucas_prescott_investment, which now defines E where it is used - Cite the existing HanSar1980 entry and drop its duplicate - ipython3 cells throughout, including rational_expectations; italic rather than bold for emphasis; "Further reading" in sentence case Co-Authored-By: Claude Opus 5.5 (1M context) <noreply@anthropic.com>

mmcky · 2026-09-27T02:33:15Z

@jstac Style guide check done ✅ Two great new lectures!

I've pushed one commit (37bf55d) with the style fixes across all three lectures:

Citations: {cite} → {cite:t} where the authors are part of the sentence (28 places). Otherwise they render as "[Sargent, 1980] proves the statement…".
Figure captions for the 7 main-text figures. The one inside a solution stays uncaptioned, which the PDF build needs.
Notation: \mathbb{E} / \mathbb{P} for expectation and probability. In optimal_growth_uncertainty, the shock bounds \alpha / \beta_r clashed with the capital share and the discount factor, so they're now \underline r / \bar r. Their fixed points are now \underline k / \bar k, to match lucas_prescott_investment, where the set E of demand states is now also defined where it's used.
Bibliography: HansenSargent1980 duplicated the existing HanSar1980 entry, so both lectures now use the existing key.
Tidy-ups: ipython → ipython3 (plus the 7 older cells in rational_expectations), italic for emphasis with bold kept for definitions, and "Further reading" in sentence case.

Nothing changes the substance. Since #1071 is stacked on this branch, I'll merge this commit into it when I do that PR. Happy to adjust anything.

…1071) * [lq_mean_field_games] Add lecture on linear quadratic mean field games Split out of branch tom_mfg (commit 8bf3b2c). Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> * [lq_mean_field_games] Style guide pass - \top for transposes; derivative primes (\bar\eta_D', \psi', \mathcal P') are unchanged - {cite} -> {cite:t} where the authors are part of the sentence - Captions for the main-text figures - ipython3 cells, \mathbb{1} for the vector of ones, expm imported once at the top, and SciPy's Riccati solution written \tilde P so that X always means the aggregate state - Italic rather than bold for emphasis Co-Authored-By: Claude Opus 5.5 (1M context) <noreply@anthropic.com> --------- Co-authored-by: thomassargent30 <ts43@nyu.edu> Co-authored-by: Claude Opus 5.5 <noreply@anthropic.com> Co-authored-by: Matt McKay <mmcky@users.noreply.github.com>

@v0

QuantEcon/lecture-python.myst#1070 added two lectures, but this PR delivered only lucas_prescott_investment: optimal_growth_uncertainty failed the structural parity check (the model dropped the leading {raw} header block and the anchor), so its sync failure was filed as QuantEcon/lecture-python.myst#1072 and the file never arrived. This PR's _toc.yml and lucas_prescott_investment both point at it, so the preview could not build. translate init -f optimal_growth_uncertainty.md at engine v0.29.6 (@v0), claude-sonnet-5, from lecture-python.myst main (9ad04de; the file's last change is 0abf403, the #1070 merge). Parity passed on the first attempt. Output as written by the CLI. Its font path, font block placement, two English figure captions and one term are repaired in the next commit. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>

@v0

…tainty] Two sequels to rational_expectations (#286) * Update translation: lectures/lq_mean_field_games.md * Update translation: .translate/state/lq_mean_field_games.md.yml * Update translation: lectures/lucas_prescott_investment.md * Update translation: .translate/state/lucas_prescott_investment.md.yml * Update translation: lectures/rational_expectations.md * Update translation: .translate/state/rational_expectations.md.yml * Update translation: lectures/_toc.yml * Update translation: lectures/_static/quant-econ.bib * Seed optimal_growth_uncertainty, the lecture this sync dropped QuantEcon/lecture-python.myst#1070 added two lectures, but this PR delivered only lucas_prescott_investment: optimal_growth_uncertainty failed the structural parity check (the model dropped the leading {raw} header block and the anchor), so its sync failure was filed as QuantEcon/lecture-python.myst#1072 and the file never arrived. This PR's _toc.yml and lucas_prescott_investment both point at it, so the preview could not build. translate init -f optimal_growth_uncertainty.md at engine v0.29.6 (@v0), claude-sonnet-5, from lecture-python.myst main (9ad04de; the file's last change is 0abf403, the #1070 merge). Parity passed on the first attempt. Output as written by the CLI. Its font path, font block placement, two English figure captions and one term are repaired in the next commit. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> * optimal_growth_uncertainty: font path and placement, captions, one term Hand repairs to the seed in the previous commit: - The engine writes FONTPATH as _fonts/...; this edition keeps the font in lectures/fonts/ (110 of the other 111 lectures), so the build would fail with FileNotFoundError. Path corrected, and the i18n block moved from the first plotting cell into the imports cell, where the rest of the edition keeps it. - Both figure captions (cell metadata) came through in English, the QuantEcon/action-translation#255 class: localised to "运动规律与托宾 q" and "不变分布以及投资与 q 的关系". - "law of motion" was rendered 运动法则 (axis title and one sentence); the edition uses 运动规律 throughout (107 occurrences), so aligned. Verified against the English source: identical directive sequence (43), anchors, the 51 cross-references and citations, heading levels, and code cells (ASTs with string literals masked); every display-math block identical except \text{with probability one} -> \text{以概率1成立}, the edition's practice. All 13 code cells execute from lectures/ with numerical output identical to the English, and both figures render in Source Han Serif SC with no missing-glyph warnings. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> * _toc.yml: restore the Chinese part captions, keep the three new entries This sync wrote the source _toc.yml whole, which turned all 19 part captions back to English (the QuantEcon/action-translation#254 class, fixed in the engine on 2026-10-09, after this PR was opened). Rebuilt from main's _toc.yml plus only this PR's three lectures, at their source positions: lucas_prescott_investment and optimal_growth_uncertainty after rational_expectations, and lq_mean_field_games after two_computation. Every entry resolves to a file on this branch. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> * Localise the nine English figure captions in the two new lectures lucas_prescott_investment (5) and lq_mean_field_games (4) arrived with their mystnb figure captions in English, the QuantEcon/action-translation#255 class. Each caption now uses the term its lecture's own text uses (需求序列独立 for IID demand, 遍历集, 过渡路径, 总量状态, 商店). Plot labels in both lectures are English and need no font block; that is the edition-wide QuantEcon/action-translation#178 class and is left as is. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com> --------- Co-authored-by: Claude Opus 5.5 <noreply@anthropic.com>

[lucas_prescott_investment, optimal_growth_uncertainty] Add two seque…

f17613b

…ls to rational_expectations Split out of branch tom_mfg (commit 8bf3b2c). Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>

mmcky merged commit 0abf403 into main Sep 27, 2026
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mmcky deleted the tom_lp_growth_sequels branch September 27, 2026 05:54

mmcky mentioned this pull request Oct 8, 2026

Add three lectures and revise auction and fault-tree lectures #1079

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mmcky mentioned this pull request Oct 18, 2026

W1 — v0.27.0: make partial delivery loud (declared-vs-delivered, TOC merge) [P0] QuantEcon/action-translation#259

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mmcky mentioned this pull request Oct 21, 2026

Recover the nine lectures behind the English by state-sha, then merge #286, #294 and #296 QuantEcon/lecture-python.zh-cn#298

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[lucas_prescott_investment, optimal_growth_uncertainty] Two sequels to rational_expectations - #1070

[lucas_prescott_investment, optimal_growth_uncertainty] Two sequels to rational_expectations#1070
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