Tom's Feb 8 edits of two lectures

Author: thomassargent30

lectures/hoist_failure.md

@@ -32,6 +32,12 @@ We'll use the following concepts and tools:
 * fault tree analysis for approximating a failure rate of a multi-component system
 * a hierarchical probability model for describing uncertain probabilities  
 * Fourier transforms and inverse Fourier tranforms as efficient ways of computing convolutions of sequences
+  
+For more about Fourier transforms see this quantecon lecture [Circulant Matrices](https://python.quantecon.org/eig_circulant.html)
+as well as these  lecture  [Covariance Stationary Processes](https://python-advanced.quantecon.org/arma.html) and [Estimation of Spectra](https://python-advanced.quantecon.org/estspec.html).
+
+
+
 
 El-Shanawany, Ardron,  and Walker {cite}`Ardron_2018` and Greenfield and Sargent {cite}`Greenfield_Sargent_1993`  used some of the methods described here  to approximate probabilities of failures of safety systems in nuclear facilities.
 

lectures/two_auctions.md

@@ -13,11 +13,22 @@ kernelspec:
 
 # First-Price and Second-Price Auctions
 
-In this lecture we'll learn about and simulate two classic auctions:
+This lecture is designed to set the stage for a subsequent lecture about [Multiple Good Allocation Mechanisms](https://python.quantecon.org/house_auction.html)
+
+In that lecture, a planner or auctioneer simultaneously allocates several goods to set of people.
+
+In the present lecture, a single good is allocated to one person within a set of people.
+
+
+Here  we'll learn about and simulate two classic auctions :
 
 * a First-Price Sealed-Bid Auction (FPSB)
 * a Second-Price Sealed-Bid Auction (SPSB) created by William Vickery {cite}`Vickrey_61`
 
+We'll also learn about and apply a
+
+* Revenue Equivalent Theorem
+
 
 We recommend watching this video about second price auctions by Anders Munk-Nielsen: