Theories on the welfare and competitive effects of exclusive territories are numerous, yet they provide ambiguous results. This paper exploits a natural experiment in the U.S. brewing industry to identify the direction of change in welfare caused by the use of exclusive territories. On January...

The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely due to severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S....

"This book examines how beer reflects the structure of society's collective values, economic structures, and structural inequity. The authors explore the organization of our social world through looking at beer as a marker of identity, an object of connoisseurship, and a livelihood for those who...