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

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 [(2...

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Veröffentlicht in:Operations research 2024-07, Vol.72 (4), p.1536-1538
Hauptverfasser: Huettner, Frank, Boyacı, Tamer, Akçay, Yalçın
Format: Artikel
Sprache:eng
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Zusammenfassung: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.
ISSN:0030-364X
1526-5463
DOI:10.1287/opre.2023.0476