Maybe we have strong instincts for conspicuous consumption for signaling purposes, so that even if on paper another mechanism should provide the same signaling value, maybe it wouldn’t reduce conspicuous consumption as much as we’d expect (although possibly still worth it!)
Maybe we have strong instincts for conspicuous consumption for signaling purposes, so that even if on paper another mechanism should provide the same signaling value, maybe it wouldn’t reduce conspicuous consumption as much as we’d expect (although possibly still worth it!)