Abstract
The aim of the paper is to test hedonic wage model on survey data collected in 2007 in the Czech Repulic (N=1040) and to derive VSL. In order to test the relationship between the work-related risk and wage risk premium, we run, three different HW models.
Apart from standard HWM that uses statistical risk indicator, we also tested two models with indicators of perceived probability of fatality and perceived relative risk of fatality.