Estimation of wage differential for the Czech Republic: Hedonic wage model testing on three datasets

Abstract

The aim of the paper is to test hedonic wage model on data from the Czech labour market in order to obtain the Value of a Statistical Life from wage differential. The estimated VSL ranged between 3.2 million EUR (using macro-data) and 6 million EUR (using micro-data).

Keywords

• valuation method
• hedonic wage method
• labor safety
• health effects
• mortality