The authors thank senior editor K. Sudhir, the associate editor, two anonymous referees, Avi Goldfarb, Nitin Mehta, Ganesh Iyer, Tanjim Hossain, Matthew Osborne, and Sha Yang as well as the audience at the 11th Choice Symposium, 2019 Marketing Science Conference, 2019 Marketing Dynamics Conference, and 2019 China-India Insights Conference as well as seminar participants at the University of Toronto; University of California, Berkeley; Johns Hopkins University; London Business School; and the National University of Singapore for their feedback. The authors are especially grateful to Lei Huang, Sixia Xie, Yuesong Yang, and Han Zhong for excellent research assistance. Both authors contributed equally and are listed in alphabetical order. The standard disclaimer applies. The paper was previously circulated under the title “Historical Memory and Brand Preference.” The authors certify that they have no affiliations with or involvement in any organization or entity with any financial or nonfinancial interest in the subject matter or materials discussed in this manuscript.