A Pi type is a type of (dependent) functions. If p_1, … p_n are named or unnamed parameters and B is a type, then \Pi p_1 … p_n -> B is also a type. If B does not refer to variables defined in the parameters, you can write A_1 -> … A_n -> B instead, where A_i are types of the parameters. If A_i has type \Type p_i h_i and B has type \Type p h, then the type of the Pi type is \Type p_max h, where p_max is the maximum of p_1, … p_n, and p. Note that the homotopy level of the Pi type is simply the homotopy level of the codomain.
An expression of the form \Pi p_1 … p_n -> B is equivalent to \Pi p_1 -> \Pi p_2 … p_n -> B. Moreover, if p_1 equals to (x_1 … x_k : A), then it is also equivalent to \Pi (x_1 : A) -> \Pi (x_2 … x_k : A) -> \Pi p_2 … p_n -> B.
A lambda parameter is either a variable or a named parameter. If p_1, … p_n is a sequence of lambda parameters and e is an expression of type E, then \lam p_1 … p_n => e is an expression which has type \Pi p_1 … p_n -> E. If some parameters do not have types, then they will be inferred by the typechecker.
If f is an expression of type \Pi (x : A) -> B and a is an expression of type A, then f a is an expression of type B[a/x].
An expression of the form (\lam x => b) a reduces to b[a/x].
An expression of the form \lam x => f x is equivalent to f if x is not free in f (eta equivalence for Pi types).