---------------- errata and revisions to printed version 1-28-06 ------------------
p. 3 revise first paragraph of preface, and touch up preface in general
p. 6 thank Glen Weyl
p. 15 ch. 1: rewrite paragraph: It seems that real
further progress had to wait for...
p. 16 excellent --> enlightening
p. 19 index people mentioned in caption of Christie's aquatint
p. 32 --> up to the point when _the_ competing bid...
p. 36 --> The seller can cancel the sale before the scheduled ending time,
but not if there are 12 hours or less remaining in the sale
and there is a winning bid
p. 36 --> It is possible for the seller to send email...
It is possible for the bidders to send email to each other
(legal and facilitated by eBay), etc.
p. 36 to a some extent --> to some extent
p. 37 reworded Question 2.3 (about when we can learn actual bid of high bidder)
p. 40 bring up foonote, remove repeat
p. 43 ...a few things... etc.
p. 45 --> precisely
p. 49 --> than you are
p. 50 This is _a_ coherent story...
p. 50 _the_ cost of discovery
p. 50 fix footnote
p. 51 ...except in the special situation when the original bid was between
integer multiples of the bidding increment (tick).\footnote{Or a tie:
eBay home page, February 2006.}
p. 51 and p. 237 cap N for Numismatic
p. 51 By --> by
p. 54-55 correct Avery index to range
p. 56 --> ...carryings on represent
p. 58 --> run by Harlan
p. 58 --> or when he's fishing...
p. 67 take out redundancy before section 4.3.1, reword part 2.
p. 69 besides --> except; group --> lot
p. 72-74 index equilibrium, in first-price auction;
p. 72-74 and first-price auction, equilibrium
p. 73 simplify paragraph beginning "What has happened here..."
p. 75 only _the_ idea; bidders to _bid_; good --> handy
p. 77 --> more strategic
p. 78 to to --> to
p. 79 index Robinson
p. 79 "A list of prices realized _is_ usually printed"
p. 80 to prospective buyers
p. 81 are the same --> is the same
p. 81 crucial --> essential
p. 83 recreate ashenfelter scatter plot of sale price
vs. auctioneer's prediction with high resolution4; update caption,
reference to figure, thank Graddy and Ashenfelter in preface
Chapter 5 and 7, index Southeby's and Christie's
p. 85 legerdemain --> some way towards eliminating this kind of chicanery
p. 91 --> known to the seller
p. 92 citeyearpar Lucking-Reiley
p. 92 index Robinson in footnote
p. 93 --> not going to give the item away cheaply
p. 96 delete crucial; three cases --> four cases
p. 99 add two Questions for Chapter 5
p. 101 psychological accounting --> psychology
p. 102 the pillar --> a pillar
p. 104 rewrite intro paragraph to Section 6.2
p. 105 getting a bill from me
p. 106 First-price with _less_ competition
p. 108 These experiments return us... touch up intro to Section 6.3
p. 108 --> ...the bidders with the two highest valuations did overbid.
p. 111 --> derive from winning
p. 111 --> "too" high, add italics to "too"
p. 111 --> upwardly
p. 115 reverse "price paid for" and "value attached to"
p. 117 --> your chances
p. 123 delete "just" before "just seen some"
p. 123 index Kennedy
p. 123 increased --> increasing
p. 126 rewrite paragraph beginning "To make..."
p. 127 to bid --> to pay
p. 127 --> a resident like me
p. 128 --> a high record of the item's market value...
p. 129 --> safe harbor of quiescent equilibrium...
p. 134 caption: save good --> save gold
p. 136 than it would be --> than they would be
p. 136 --> which results
p. 146-7 rewrite paragraph beginning "Buyer collusion..."
p. 147 --> seller's item page or feedback record
p. 148 --> It is hardly necessary to point out again... (Milgrom and Weber)
p. 149 or the forgery --> the forgery
p. 152 --> or varying degrees of...
p. 152 delete "As mentioned above"
p. 152 it it --> it
p. 154 --> All the major collections
p. 157 reserves --> reserve
p. 157 delete a couple "or"s
p. 158 wish to --> want to
p. 159 sophisticated shopping --> intelligent shopping, change paragraph break
p. 165 Eq. A.5: use dummy variable y
p. 165 --> as long as it is
p. 166 , or the more modern Whittle
p. 167 touch up wording of paragraph with derivation of g_k
p. 168 --> put away this fact for safe keeping
p. 168 --> we can now return
p. 169 --> ..., so should we expect higher revenue?
p. 170 --> when _we_ win
p. 170 --> delete sentence "Thus, a SBNE...", and italicize "there {\it is}"
p. 171 in Eq. A.2: v --> v_1
p. 173 Eq. A.32 and line before: use beta^{-1}(b) not beta^{-1}(v)
p. 174 delete comma after "our valuation"
p. 176 --> where the expectation is over... and begin new paragraph afer Eq. A.46
p. 178 subscripts in the Example should be 2,n
p. 179 resultant --> resulting
p. 179 --> The mathematics nicely supports the heuristic argument...
p. 180 descending-clock; delete "a" before "someone"; price _is_ reached
p. 180 --> We've already pointed out in Section~\ref{four_standard} that the decision
p. 181 we should observe at this point --> It is worth repeating at this point
p. 181 replace colon after "winning" by semicolon
p. 182 is equal to b --> is the same as b
p. 182 break sentence beginning "In fact..." and tune wording
p. 183 Question 6: --> as v approaches zero is zero.
p. 187 Now here is something quite remarkable...any revenue-maximizing...the class...
p. 188 replacing...by (1/f(v) d {F(v)}^n,...
p. 190 after equation B.21: , for v >= 1/2
p. 192 flesh out caption of Fig. B.1
p. 193 with valuations independently and uniformly...
p. 194 flesh out caption of Fig. B.2
p. 195 --> will be ruined
p. 196 fix description of Sanata Claus auction
p. 197 delete "; that is, equilibrium bidding..."
p. 198 flesh out caption of Fig. B.3
p. 200 is less than the slope of the chord...
p. 202 Question 3: is iid and uniform
p. 205 tune up beginning of intro paragraph
p. 207 fix references to Milgrom & Weber, p. 1096
p. 208 revise couple of paragraphs beginning "In a first-price..."
p. 209 Milgrom & Weber --> their; and will --> but will; However, before we leave...
p. 209 ...she bids as if her valuation is z... v_1
p. 212-213 index revelation principle
p. 212 various rewordings, emphasizing shift to values instead of bid
p. 213 --> But we must ask the key question: Why should bidders...
p. 213 incentive-compatible direct mechanism
p. 213 As we discussed above, it is no longer true...
p. 214 ...the old expression for the surplus is...
p. 215 with respect to v_i when z = v_i...
p. 216 --> in footnote 10: We will see shortly
p. 216 all other the --> all the other
p. 217 ...process when there are two bidders
p. 217 caption of Fig. C.2: ...for asymmetric bidder distributions.
There are two bidders with uniform distributions on different intervals.}
p. 218 provides bidders --> provide bidders
p. 218 second-price --> second price
p. 219 (A_rs) --> A_rs
p. 226 --> as we will see...
p. 226 report results --> produced results
p. 227 do this for reason --> did this for a reason
p. 228 --> Bidding in English auctions approaches truthful bidding with learning.
p. 228 --> think that...has exceeded one's value
p. 231 final period
p. 234 issue --> Issue
p. 237 cap N in bib, Robinson
p. 237 Jan. 26,
p. 237 Oct. 15,
p. 237 December --> Dec.
p. 237 A. Smith: (1991 edition)
p. 239 index "artifacts (ancient)"
p. 240 index "disclosure principle"
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