Erratum to “Buy Now and Match Later: Impact of Posterior Price Matching on Profit with Strategic Consumers”

On page 37 of the article “Buy Now and Match Later: Impact of Posterior Price Matching on Profit with Strategic Consumers” by Guoming Lai, Laurens Debo, and Katia Sycara Manufacturing & Service Operations Management, Winter 2010, Vol. 12, No. 1, 33–55), to the beginning of §3.4 Purchasing Behavior, the following sentence should be added:

“Similar to Png (1991), we assume that the consumers will make no purchase if the price is higher than V_H and thus the seller will not set the first-period price above V_H in our model. Furthermore….”

The assumption that p₁ ≤ V_H was made, but was not stated explicitly in the model set-up section.