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Erratum to “Consumer Choice Under Limited Attention When Alternatives Have Different Information Costs”

Author

Listed:
  • Frank Huettner

    (SKK GSB, Sungkyunkwan University, Seoul 03063, Korea)

  • Tamer Boyacı

    (ESMT Berlin, 10178 Berlin, Germany)

  • Yalçın Akçay

    (Melbourne Business School, University of Melbourne, Carlton, Victoria 3053, Australia)

Abstract

There is an error in one of the results of our paper [Huettner F, Boyacı T, Akçay Y (2019) Consumer choice under limited attention when alternatives have different information costs. Oper. Res. 67(3):671–699]. In this erratum, we point out the error and provide a correction based on Walker-Jones [(2023) Rational inattention with multiple attributes. J. Econom. Theory 212:105688]. Our key characterizations, insights, and numerical examples do not depend on this error and, hence, remain valid. The main implication is on the stopping condition used in the algorithm. We propose a fix based on the new sufficient condition and, if needed, standard convex optimization techniques.

Suggested Citation

  • Frank Huettner & Tamer Boyacı & Yalçın Akçay, 2024. "Erratum to “Consumer Choice Under Limited Attention When Alternatives Have Different Information Costs”," Operations Research, INFORMS, vol. 72(4), pages 1536-1538, July.
    • Handle: RePEc:inm:oropre:v:72:y:2024:i:4:p:1536-1538
    DOI: 10.1287/opre.2023.0476
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