We are grateful to Auffhammer and Vincent (1) for having pointed out that Eqs. 1 and 2 in Feng et al. (2) do not represent the model actually used to produce the estimates presented in Tables 1 and _2 of the latter paper (2). What we actually estimated was a model without time dummies. Thus, gt and ht should have been omitted from Eqs. 1 and 2. We regret this mistake.