The final chapter serves as summary to the first volume of Beers, Ciders & Spirits: Craft Beverages and Tourism in the U.S. entitled The Rise of Brewers and Distilleries in the United States. The chapters that are encapsulated in the first volume of this textbook present innovative examples of...

While inferring markups from demand data is common practice, estimation relies on difficult-to-test assumptions, including a specific model of how firms compete. Alternatively, markups can be inferred from production data, again relying on a set of difficult-to-test assumptions, but a wholly...

Merger efficiencies provide the primary justification for why mergers of competitors may benefit consumers. Surprisingly, there is little evidence that efficiencies can offset incentives to raise prices following mergers. We estimate the effects of increased concentration and efficiencies on...