Do Whisky Investors Read the Bible ? The Effect of Expert Ratings on the Vintage Single Malt Secondary Market

David Moroz () and Bruno Pecchioli ()
Additional contact information
David Moroz: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Bruno Pecchioli: CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

Post-Print from HAL

Abstract: This article aims to estimate the effect of expert assessments on the prices for single malt Scotch whiskies on the investment market. Our results obtained using an original dataset combining data from Jim Murray's Whisky Bible and a web trading platform specializing in whisky investment show that the quality rating is not a powerful predictor of investor ask prices, especially when controlling for distillery and bottler reputation. This finding suggests that although the Murray score may embed information of use to unsophisticated investors, its effect on price can be outperformed by a detailed knowledge of the whisky industry.

Date: 2021-02
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Published in Journal of Wine Economics, 2021, 16 (1), pp.86-101. ⟨10.1017/jwe.2020.53⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03176216

DOI: 10.1017/jwe.2020.53

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().