Erratum

Abstract

On page 358 of “Preemption and Rent Equalization in the Adoption of New Technology” by D. Fudenberg and Jean Tirole (1985), Assumption 2 was repeated twice and Assumption 1 was omitted. The text should include the following: Assumption A.1. For all m ≦ n , (i) π 0 (m) and π 1 ( m ) are positive and decrease with m , and (ii) π 1 ( m − 1) − π 0 ( m − 2) > π 1 ( m ) − π 0 ( m − 1).