Abstract
This study investigates the relationship between wages and risks of work-related fatalities in the Czech labor market. To prove this relationship we followed the theory of compensating wage differentials and the theory of hedonic prices.
Based on estimated hedonic wage functions, we computed the value of a statistical life (VSL). The implied value of VSL is 60 million CZK for the model with subjectively perceived risks and 266 million CZK for the models with objective risks in 2009 Czech crowns.