The spelling of the word "espey" can be a bit confusing when pronounced in the IPA phonetic transcription. The correct spelling for the sound /ɛspi/ is actually "espy." The letter "y" in this case represents the [aɪ] sound. However, if the word is pronounced with the vowel sound /eɪ/, then it would be spelled "espey." The letter "e" gives the sound /ɛ/ and the letter "y" the sound /ɪ/. It is important to pay attention to the sound of a word when spelling it correctly.