The analysis and conclusions presented in this paper are solely those of the authors and do not reflect the views or opinions of SiriusXM/Pandora. The authors thank Pradeep Chintagunta, JP Dubé, Avi Goldfarb, Günter Hitsch, Simha Mummalaneni, Omid Rafieian, Anita Rao, Hema Yoganarasimhan, and participants of the 2021 Quantitative Marketing and Economics and 2020 Marketing Science conferences for their helpful comments and suggestions. The authors are also grateful to seminar participants at the Stanford Graduate School of Business, the Wharton School at the University of Pennsylvania, the Nova School of Business and Economics, the Haas School of Business at the University of California Berkeley, the Simon Business School at the University of Rochester, the University of Southern California Marshall School of Business, and the Leeds School of Business at the University of Colorado Boulder for their valuable feedback.
