Erratum to: “Incorporating transport cost in the lot size and pricing decisions with downward sloping demand” [International Journal of Production Economics 95, 297–305]

We correct our earlier formulation [Abad, P., Aggarwal, V., 2005. Incorporating transport cost in the lot size and pricing decisions with downward sloping demand. Int. J. Prod. Econ. 95, 297–305] in which the carrying cost was assumed to be proportional to the purchase cost. Since the buyer/reseller is responsible for paying for freight, the item value for estimating carrying cost should include not only the purchase cost but also the per unit …