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Erratum to "Consumer Choice Under Limited Attention When Alternatives Have Different Information Costs".

Authors :
Huettner, Frank
Boyacı, Tamer
Akçay, Yalçın
Source :
Operations Research; Jul/Aug2024, Vol. 72 Issue 4, p1536-1538, 3p
Publication Year :
2024

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. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
0030364X
Volume :
72
Issue :
4
Database :
Complementary Index
Journal :
Operations Research
Publication Type :
Academic Journal
Accession number :
178661303
Full Text :
https://doi.org/10.1287/opre.2023.0476