Transaction price vs. ask price in hedonic regressions: evidence from the vintage scotch whisky market

David Moroz and Bruno Pecchioli ()
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Bruno Pecchioli: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: This paper examines the impact that ask prices and transaction prices have on vintage whisky hedonic price estimates, following a recent paper by Moroz and Pecchioli, who focus solely on ask prices. In general, the results suggest that whisky price estimates are independent of prices employed, with the main differences relating to the economic impact of certain variables. More precisely, bottle owners tend to overestimate the effect of some whisky characteristics (bottle age, non-dilution of the whisky) on price, which may be explained by the youth of the whisky investor market.

Date: 2021
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Published in Applied Economics Letters, 2021, 28 (2), pp.129-132. ⟨10.1080/13504851.2020.1738323⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02557958

DOI: 10.1080/13504851.2020.1738323

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