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

Olivier Baron (), Jean-Marie Cardebat () and Jean-Marc Figuet ()
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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

Economics Bulletin, 2025, vol. 45, issue 1, 263 - 272

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.

Keywords: Scotch whisky; hedonic price analysis; age; alcohol content; reputation (search for similar items in EconPapers)
JEL-codes: C1 L6 (search for similar items in EconPapers)
Date: 2025-03-30
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