Browsing by Author "Mittelhammer R.C."
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Item Beer snobs do exist: Estimation of beer demand by type(Colorado State University, 2014) Toro González, Daniel; McCluskey J.J.; Mittelhammer R.C.Although mass-produced beers still represent the vast majority of U.S. beer sales, there has been a significant growth trend in the craft beer segment. This study analyzes the demand for beer as a differentiated product and estimates own-price, cross-price, and income elasticities for beer by type: craft beer, mass-produced beer, and imported beer. We verify that beer is a normal good with a considerably inelastic demand and also find that the cross-price elasticity across types of beer is close to zero. The results suggest that there are effectively separate markets for beer by type. Copyright 2014 Western Agricultural Economics Association.