Free beer

There really is such thing as “free beer”:http://freakonomics.blogs.nytimes.com/2008/05/14/when-bad-laws-create-good-outcomes-prohibition-edition/!:

bq. Several restaurants participated in a local food festival, serving tasty morsels in a public square. For $10, I could buy 5 “tickets” entitling me to five small plates of Philly’s finest offerings. Interestingly, only one group was offering its wares for free: the Philly brewery serving locally made beer.

bq. Presumably this reflects the difficulty of obtaining licensing to sell their brews. So the beer tasting was free, and instead of just enjoying one glass with dinner, I may have ended up indulging a bit more, tasting each of their varieties.

But it must have been lousy beer:

bq. A strange postscript to this event: We usually expect prices to equate supply and demand. Yet at 9 p.m., as the food festival was closing down, most of the restaurants charging $2 per plate were out of food, but the brewery still had ample supply, continuing to sell its beer at $0 a pop.

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