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Value of Statistical Life: Estimation for the Czech Republic
 Přenosilová, Klára ; Dušek, Libor (advisor) ; Rod, Aleš (referee)
This work combines economics and law and shows how the results of economic estimations can be beneficial and useful for the legal practice. Concerning the economic theory, this work is based on the theory of compensating wage differentials, which originate in the labour market in order to compensate workers on riskier jobs for the higher probability of fatal and non fatal work related accident. On the basis of compensating wage differentials caused by the different level of work related risk in different industries, I estimated the value of statistical life in the Czech Republic. The estimated value of statistical life ranged between 86.2-96.8 million CZK. In the legal practice these estimations could be used as reference amounts when compensating for the non-pecuniary damage in case of bodily injury and killing.
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