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Scotch whisky prices unveiled: the influence of age, alcohol content, and distillery reputation

Author

Listed:
  • Olivier Baron

    (Univ. Bordeaux, CNRS, INRAE, BSE, UMR 6060, UMR 1441)

  • Jean-Marie Cardebat

    (Univ. Bordeaux, CNRS, INRAE, BSE, UMR 6060, UMR 1441)

  • Jean-Marc Figuet

    (Univ. Bordeaux, CNRS, INRAE, BSE, UMR 6060, UMR 1441)

Abstract

This paper examines the impact of age, alcohol content, and distillery reputation on Scotch whisky prices through a hedonic pricing model. Using data from The Whisky Exchange, we analyze the key determinants of price variations. The findings reveal a non-linear relationship between age and price, with older whiskies commanding exponentially higher values. Similarly, whiskies with higher alcohol content and those from renowned distilleries achieve premium prices. These three factors are particularly significant for collectible bottles, offering valuable insights for consumers and investors alike.

Suggested Citation

  • Olivier Baron & Jean-Marie Cardebat & Jean-Marc Figuet, 2025. "Scotch whisky prices unveiled: the influence of age, alcohol content, and distillery reputation," Economics Bulletin, AccessEcon, vol. 45(1), pages 263-272.
    • Handle: RePEc:ebl:ecbull:eb-24-00521
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    More about this item

    Keywords

    Scotch whisky; hedonic price analysis; age; alcohol content; reputation;
    All these keywords.

    JEL classification:

    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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