I use Pernod quite often in cooking, but I have to say that I really hate the fact that they use Yellow No. 5 to turn it that neon yellow color. I just don't understand the point, really. I have an expensive bottle of Absinthe in my home bar, but I'd never use that as a Pernod substitute.
I'd love to avoid spending a bunch of money on different bottles, trying to figure out what the best substitute would be. Would be great if someone had a recommendation based on experience.