Interdependent Preferences and the Competitive Wage Structure
通过例子说明,当工人关心相对收入且可自由选择同事时,企业内工资分布会比边际产品分布更集中,且通过工人按对高地位的支付意愿进行排序,能实现帕累托改进。
This article shows by example that when workers care about relative income and are free to choose their coworkers, the equilibrium distribution of wages within firms must be less dispersed than the corresponding distribution of marginal products. An implicit market for within-firm status is shown to produce welfare gains by sorting workers among firms in accordance with how much they are willing to pay for high rank. The resulting equilibrium Pareto dominates allocations in which each worker is paid his marginal product.