作者：Kaplow, L; Shavell, S
作者单位：Harvard University; National Bureau of Economic Research
摘要：The public at large, many policymakers, and a number of economists hold views of social welfare that are non-welfarist. That is, they attach some importance to factors other than the effects of policies on individuals' utilities. We show, however, that any non-welfarist method of policy assessment violates the Pareto principle.
作者：Bronars, SG; Famulari, M
作者单位：University of Texas System; University of Texas Austin
摘要：We present empirical evidence on the relationship between individual wages, conditional on worker characteristics, and equity returns using a unique survey from the Bureau of Labor Statistics. Equity returns affect the wages only of workers with three or more years of tenure. A 4 percent increase in a firm's market value raises pay by 0.3 percent within three years. Our estimates suggest that each $10 increase in shareholder wealth raises the present value of a firm's wage bill by $1. The elas...
