ˈtʃæstəzmənt kəˈɹɛkʃən ˈdɪ.sə.plɪn ˌɹɛktɪfɪˈkeɪʃən the act of offering an improvement to replace a mistake; setting right treatment of a specific defect the correction of his vision with eye glasses the act of disciplining the offenders deserved the harsh discipline they received a drop in stock market activity or stock prices following a period of increases market runups are invariably followed by a correction something substituted for an error a rebuke for making a mistake a quantity that is added or subtracted in order to increase the accuracy of a scientific measure