Phalcon and Erieye are two different platforms, the former being an AEW&CS and the latter and advanced AEW system.
Phalcon on paper is superior to the Erieye which does not neccessarily mean that IAF will have an overall advantage over PAF in this field. Erieye will be inducted in larger numbers than the Phalcon, i.e. 7:3 and will provide an intensive datalink to PAF.
Erieye is largely considered as a stop-gap measure that will enable us to improve technology and performence of the future Sino-Pak AEW&CS JV wich currently is under development and should be completed within next five years. This will be a true answer to the Phalcon or any western design.
PAF evaluated US designs, the E-2C Hawkeye was offered by the US but we deliberately declined the offer and selected the Erieye for political reasons.
Only later we would learn about the Sino-Pak JV wich is already in advanced stage of development.