CONSPICUOUS CONSUMPTION, INCONSPICUOUS LEISURE*

摘要: It is commonly argued that because relative consumption appears to matter people, they must be involved in a rat race: people work harder and consume more than would have were optimum public policies place. But although consuming today improve one’s now, it worsen the future. In this article we identify structure of felicity functions for which two effects offset each other exactly. The finding goes some way toward explaining why, while household surveys suggest matters, behaviour households has not pointed unambiguously presence effects. ... utility both (conspicuous leisure conspicuous consumption) alike purposes reputability lies waste common both. one case time effort, goods. Both are methods demonstrating possession wealth, conventionally accepted as equivalents. Veblen (1899, [1925]). A growing body empirical suggests contrary what customarily assumed consumer demand theory, current only economic variable determining (current utility). an early Duesenberry (1949) had explored thesis care about their own level, but also level those reference group (Leibenstein, 1950). Named demonstration effect, person suffers loss when others levels rise, his now declines.