>If that were the case and employees were compensated equally in stock vs cash, then yes there is no _rational_ difference. Even if this assumes an equal net p

>If that were the case and employees were compensated equally in stock vs cash, then yes there is no _rational_ difference. Even if this assumes an equal net present value, wouldn't the volatility of stock vs. cash make a very rational difference in expected future value? For people who are risk adverse, the cash would probably be preferred; for those who are less risk adverse, the opposite is probably true.