Correction to: Better with buy now, pay later?: A competitive analysis (Quantitative Marketing and Economics, (2024), 22, 1, (23-61), 10.1007/s11129-023-09271-y)

https://doi.org/10.1007/s11129-023-09271-y. The recently published paper has some errors in the main body. Here are the corrections that need to be updated: Page 32: The entire paragraph “In practice, there are a few different variants of BNPL programs that charge interest to consumers. We focus on the predominant version of the BNPL program that offers consumers interest-free loans (or installment purchase) to purchase a specific product.” needs to be replaced. The correct text is: “Because BNPL credit is at the retailer-product-consumer level, we do not need to model some aspects that would be critical in a model of credit cards and other forms of revolving credit. For instance, a consumer’s decision to avail of BNPL credit for a specific product can be modeled in isolation and separate from their other credit decisions. Similarly, a BNPL firm?s decision to approve a consumer’s BNPL credit application for a specific product being sold by a specific retailer is not the same as approving an open-ended revolving credit. In practice, there are a few different variants of BNPL programs that charge interest to consumers. We focus on the predominant version of the BNPL program that offers consumers interest-free loans (or installment purchase) to purchase a specific product.” Page 37: “Proof of Proposition 2” should read “Proposition 1”. Page 38: “Proposition 1” should read “Proposition 2”. Page 41: “Proof of Proposition 3” should read “Proposition 3”. Page 43: “Proposition 2” should read “Proposition 4”. Page 43: “Proposition 3” should read “Proposition 5”. Page 43: Table 1 title should be in the title case. Also, the table is missing the words “Note.” before the note at the bottom of the table. Page 49: Table 2 title should be in the title case. In the table, the first case (NN) has been merged with the table header. The header should only be “Profit Reduction with h_2 > 0”. Also, the table is missing the words “Note.” before the table notes appear at the bottom of the table. The original article has been corrected.

Duke Scholars

Author Preyas S. Desai Fuqua School of Business