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\begin{center}
{\bf    Some Auction Chapter Typos (missing parentheses)
}
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p. 419. Missing parentheses in $p_i =  p_{(n)} +s_i/2 $. It should read: 
 
\noindent
{\bf  Equilibrium:}  If no bidder has quit yet,  Bidder $i$ should drop out
when
the price rises to  $s_i$. Otherwise, he should  drop out when the price rises
to $p_i = (p_{(n)} +s_i)/2 $,      where $p_{(n)}$ is the price at which the
first dropout occurred.


 p. 420, top of page. Missing parentheses in $p_i =  p_{(n)} +s_i/2 $. It should read: 

  In cases (b) and (c),
his estimate of the value is $p_{(i)}= (p_{(n)} +s_i)/2 $, since $p_{(n)}$
and $s_i$ are the extreme signal values and the signals are uniformly
distributed, and that is where he  should drop out.

  The price paid by the winner will be the price at which the second-highest
bidder drops out, which is $(s_{(n)} +s_{(2)})/2$.

p. 420, bottom of page. More missing parentheses. Should be: 

\noindent
{\bf  Equilibrium:}  Bid $p_i = s_i  - \left( \frac{n-2}{n}\right) m $.

p. 421, middle  of page. More missing parentheses. Should be: 

He will bid the value $v$ which solves equation (13.73), yielding the
optimal strategy,     $p_i = s_i - \left( \frac{n-2}{n} \right) (m) $.

On average, the  second-highest bidder actually has the signal $E s_{(2)} = v
+\left(  \frac{ n-3}{n+1} \right) m$, from equation (13.70). 

 

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