You're not alone. Here's an early variant of such a policy. SEMCO, a Brazilian company run by Ricardo Semler, has since 1980s had the policy where people could set their own salaries.
Some excerpts off his book on 37signals: http://37signals.com/svn/posts/945-excerpts-from-ricardo-sem...
His book: http://www.amazon.com/Maverick-Success-Behind-Unusual-Workpl...