Recently, one of my colleagues found out major errors in a paper written by him and published in a reputed journal after peer review. He wants to retract the whole paper and resubmit afresh after incorporating the corrections to the errors discovered by him. No one else has noticed the errors so far. What is the best way out for him and also for the editor?
Withdrawing is not the only possibility (and I am not even sure it is the best course of action assuming there was no fraud or something of the kind involved). Your colleague can publish an erratum instead:
https://en.wikipedia.org/wiki/Erratum
Thanks Artur. Erratum is normally short, not more than one page. But in this case numerical results, Figures and Conclusions everything is unfortunately wrong and misleading.
There is one historical precedent I can think of. The original paper on axiomatics of quantum field theory by Osterwalder and Schrader (1973)
http://projecteuclid.org/euclid.cmp/1103858969
contained an error. It was corrected in their paper of 1975:
http://projecteuclid.org/euclid.cmp/1103899050
Their results are still referred to as "Osterwalder-Schrader axioms" in spite of the error.
So, you can have a look how they have managed the problem.
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