The authors thank Jean-Pierre Dubé, Daniel Ershov, Sylvia Hristakeva, Jura Liaukonyte, Stephan Seiler, and Xu Zhang for their helpful comments. The authors also thank seminar participants at Annual Frank M. Bass University of Texas-Dallas Frontiers of Research in Marketing Science Conference, the virtual Quant Marketing Seminar, Pompeu Fabra University, and the Barcelona School of Economics Summer Forum Quant Marketing Workshop. The authors give special thanks to Bernard Feldman for his invaluable assistance with the data for this project. The author names are listed in alphabetical order. All authors declare that they have no competing interests.