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Two new lectures at the end of the Dynamic Programming Squared section: - gradual_trade_agreements: self-enforcing trade agreements with gradual tariff reduction (Bond and Park 2002) and gradual expansion of membership (Bond 2009), solved recursively with promised value as the state. - organizational_equilibrium: institution building without commitment (Bassetto, Huo and Rios-Rull 2024), applied to a growth model with present bias and to tariffs with saving and growth. Each has three exercises with dropdown solutions and a section on connections to the other DP-squared lectures. Adds 14 bibliography entries. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
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🔵 Needs a closer look
The lectures contain substantial executable numerical economics whose build/run correctness in CI cannot be verified here, warranting final human review despite no issues found by static inspection.
No open issues 🎉
What changed in this PR
Adds two new lectures to the end of the "Dynamic Programming Squared" section of the QuantEcon advanced Python lecture series, covering gradualism in trade policy. gradual_trade_agreements develops self-enforcing trade agreements with gradual tariff reduction (Bond and Park 2002) and gradual membership expansion (Bond 2009), solved recursively with a promised value as the state. organizational_equilibrium introduces institution-building without commitment (Bassetto, Huo and Ríos-Rull 2024), applied to a present-biased growth model and to tariffs with saving and growth. Both include three exercises with dropdown solutions and a "Connections to other lectures" section, and the work is well integrated with existing lectures via {doc}/{ref} cross-references.
Changes:
- Two new executable MyST lectures with derivations, numerical code, figures, and exercises.
- Registers both lectures in
_toc.ymlunder "Dynamic Programming Squared", preserving the ordering implied by their mutual "next lecture" references. - Adds 14 BibTeX entries to
quant-econ.bib; all cite keys resolve and no duplicates are introduced.
| File | Description |
|---|---|
| lectures/organizational_equilibrium.md | New lecture on organizational equilibrium; code matches the stated saving-rate/tariff formulas and all labels/refs resolve. |
| lectures/gradual_trade_agreements.md | New lecture on self-enforcing trade agreements; recursive frontier and membership-expansion code are internally consistent with the math and footnotes. |
| lectures/_toc.yml | Registers both lectures in the correct section and order. |
| lectures/_static/quant-econ.bib | Adds 14 references consumed by the two lectures; keys match usage. |
Review effort: Balanced
- organizational_equilibrium: rename the transition-map variable from the script letter 𝒯 to T_map. Python normalises 𝒯 to T, and the script letter may not render in every notebook font. - gradual_trade_agreements: keep the padding outside the parentheses in the exercise 3 table, which printed "(first )". Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
QuantEcon style favours unicode names in code, so this undoes the T_map rename from the previous commit. The exercise 3 table padding change in gradual_trade_agreements stays. Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
- gradual_trade_agreements: bold the defined terms "immediate global agreement", "two-step agreement" and "building bloc", which were in italics (qe-writing-005). - organizational_equilibrium: shorten three figure captions to six words or fewer (qe-fig-004). Co-Authored-By: Claude Opus 5.5 <noreply@anthropic.com>
Two new lectures at the end of the Dynamic Programming Squared section:
Each has three exercises with dropdown solutions and a section on connections to the other DP-squared lectures. Adds 14 bibliography entries.
thanks @thomassargent30