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In our paper [SIAM J. Control Optim., 40 (2001), pp. 699--723], due to an error in the proof, an additional assumption is needed for the conclusion of Theorem 3.6 to hold. In this erratum, we restate and prove Theorem 3.6 and correct other related mistakes accordingly.

Erratum: Sensitivity Analysis of the Value Function for Optimization Problems With Variational Inequality Constraints