The authors thank Nicolas Fugger, Felix Kölle, Johannes Mans, and seminar participants at the Virtual Market Design Seminar, the Max Planck Institute for Research on Collective Goods in Bonn, the Behavioral Industrial Organization and Marketing Conference, the European Marketing Academy Conference, and the INFORMS Marketing Science Conference for valuable discussions; Nadine Mühl and Niklas Wagner for excellent research assistance; and the associate editor and six anonymous referees for valuable comments that greatly improved the paper.