This paper examines variations in executive compensation as a function of CEO power. We assume that a CEO’s motivation to optimize his pay is conditional upon his ability to shape decisions that favor his interests. Power is inferred form overt manifestations such as share holdings, but also from covert sources such as a CEO’s social capital. Two components of compensation are considered: base ...

Democratic systems are built, with good reason, on majoritarian principles, but their legitimacy requires the protection of strongly held minority preferences. The challenge is to do so while treating every voter equally and preserving aggregate welfare. One possible solution is storable votes: granting each voter a budget of votes to cast as desired over multiple decisions. During the 2006 stu...

S&P1500 firms awarded signing bonuses to a growing proportion of new top executives in recent years, with the payments averaging $2.5 million from 1992 through 2011. Examining hand-collected data on 2,301 signing bonuses during that period, we find empirical evidence corroborating the signaling and incentive roles of the payments. Our research is the first empirical study on executive signing b...

The UI bonus experiments were conceived just after unemployment in the United States had reached a post–World War II high. In 1982 and 1983, for example, the civilian unemployment rate was nearly 10 percent (Council of Economic Advisers 1999). During the 1960s, the unemployment rate averaged under 5 percent and during the 1970s, it averaged just over 6 percent. High unemployment, coupled with a...

BACKGROUND The second-generation cryoballoon (CB-2G) is a promising technique to treat atrial fibrillation (AF). It is necessary to summarize and analyze the available data on 1-year clinical outcome of pulmonary vein isolation (PVI) with CB-2G. METHODS PubMed and the Web of Science were searched in May 2015. Studies that reported the 1-year clinical success rates after PVI using CB-2G were i...