The authors are grateful for conversations and comments from seminar participants at Yale, University of California Berkeley, ETH Zurich, Georgia State, University of Colorado, Boulder, Georgetown University, Dartmouth College, Georgia Tech, RWI Essen, McMaster University, Western University, Hong Kong University of Science and Technology; Fudan University, Erasmus University, Indian School of Business, ACR Conference, Marketing Science Conference, and the AMA-Sheth Doctoral Consortium, as well as comments from many colleagues. The authors thank the anonymous reviewers, associate editor, and editors for thoughtful comments on an earlier draft of this manuscript. The authors also thank the staff at the Pecan Street, especially Grant Fisher.