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I think you want "utility", not "pay". Utility includes all of a person's subjective desires. The downside is that utility might not be computable, or a person
by MichaelBurge 4y ago
I think you want "utility", not "pay". Utility includes all of a person's subjective desires.
The downside is that utility might not be computable, or a person might not have a well-defined utility function(if they give inconsistent preference rankings between 3 or more choices).
Pay is easily computable, and also has lots of data in pay stubs and government tax records. So pay is better than utility if you want to poll people or gather data.
- chiefalchemist 4y agoRight. "Pay" is good for data collection and employers, etc. But it's a broken concept for the employees.
- nonameiguess 4y agoIn this case, they're not even talking about utility, which may be intangible and can only be estimated. They're talking about net income after housing and commuting expenses, which can still be easily computed just using median rents and commuting expenses of the in-office versus remote working populations.