Heisenberg Effect Hits Hard: Scotch, Cocktail Demand Plunge, Goldman Gives Up
Regular readers are aware that the "Heisenberg Effect" is showing up everywhere you look. Earlier this month, I noted that my abstention from alcohol (beginning in late November) seems to be having a knock-on effect in the US beer market. As I put it: There are market consequences when an enormous, previously reliable source of insatiable demand suddenly dries up. Then, just three weeks later, we got further evidence that a dramatic shift in the Heisenberg consumption mix is rippling through m
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Price elasticity of demand and substitutes … what gives???
Prices of craft beer and single malt (two items in a market basket I closely track) seem to be defying gravity in my geographic locale … over the past couple of years or so, the retail price of a 12-pack of craft brew has about doubled and shows no sign of mitigating … single malt Scotch pricing doesn’t seem to have been quite as ‘hockey stickish’–however, has still shown dramatic and persistent price inflation …