The marginalist interpretation of conspicuous consumption: inconsistencies and limitations of the neoclassical synthesis of the theory of the leisure class

Abstract The theory of conspicuous consumption is an element of the Veblenian theoretical construction originally elaborated in his first book The Theory of the Leisure Class. The term is understood as the level of consumption (especially) of the leisure class used as a status symbol, a demonstration of individual prestige and social distinction. Thus, it presents an important cultural component, in which preferences are formed endogenously, emulated by the other classes, and thus become a socialized behavior. By the middle of the twentieth century, this general idea that richer classes seek to demonstrate wealth through consumption of luxury goods has been absorbed by conventional microeconomics. The purpose of this article is to examine the general characteristics of the Veblenian concept and to demonstrate the inconsistencies and limitations of its “neoclassization”. It is concluded that this neoclassical interpretation resulted in certain abstractions that justified the institutionalist author’s original proposal.

摘要 炫耀性消费（conspicuous consumption）理论是凡勃伦理论体系的组成部分，该理论最初在其首部著作《有闲阶级论》（The Theory of the Leisure Class）中得到系统阐发。此术语指代有闲阶级的消费层级（尤其侧重其消费水准），被用作身份符号，用以彰显个体声望与社会区隔。由此，这一现象构成了重要的文化组成部分：其消费偏好由内生性生成，并为其他阶级所效仿，最终演变为一种社会化行为。至20世纪中叶，"富裕阶级通过奢侈品消费彰显财富"这一核心观点，已被主流微观经济学吸纳。本文旨在梳理凡勃伦式炫耀性消费概念的核心特征，并论证其"新古典化"解读所存在的矛盾与局限。研究结论显示，这类新古典主义解读催生了若干抽象化设定，这些设定为这位制度主义学者的原始理论主张提供了合理性依据。