The All-American Beer: A Case of Inferior Standard (Taste) Prevailing

America's preference for homogeneous, bland-tasting beer may have been largely derived not from an efficient, market-clearing equilibrium, but rather as a result of a series of interesting historical processes and events. The authors argue that the U.S. market may have become locked in a sub-optimal equilibrium in which most consumers are no longer familiar with the full range of what beer is and...