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Herbicides account for approximately 2.2% of total farm expenses and are applied to more than80% of farmland in the USA. The widespread adoption of herbicides contributed to the increasedand relatively cheaper productivity of modern intensively managed agricultural systems indeveloped countries. The present study uses a hedonic framework to analyze the effect ofselected attributes on the price of corn and soybean herbicides. Two different empirical modelswere estimated separately for the two crops. The data include information on 51 herbicides, 27for corn and 24 for soybean crops used in Kentucky. Findings indicate that efficacy againstweeds and crop response (illustrates the potential of an herbicide to injure a crop) of herbicidesare significant determinants of their prices. Moreover, some of the environmental statementshave an effect on herbicide prices. The study confirms the importance of explicitly includinginformation about herbicides active ingredients and their impacts on plants' physiological cycleas it improved the model fit for corn herbicides and provided results in line with the a-priorihypothesis.
