AAWE, Economics Dept, New York University, 19 W 4th St, 6Fl., New York NY 10012aawe@wine-economics.org

AAWE Working Paper No. 228 – Economics

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AAWE Working Paper No. 228 – Economics

The Hedonic Price for Whisky: Distiller’s Reputation, Age and Vintage

David Moroz & Bruno Pecchioli


Using an original dataset hand collected on an online trading platform specialized in whisky investment, this article aims to estimate the main determinants of price differences for whiskies. We find strong evidence that distiller’s reputation, age of whisky and vintage affect positively the price. Other findings include a negative effect for independent bottling (i.e. not in-house by the distiller) and a positive “collector” effect for bottles identified as “extremely rare” by the website.

JEL codes: L11; L15; Q13

This article was written by Karl Storchmann