Abstract: As a subject mainly studying the routines of consumption activities, consumer economics almost has not done any special and systematic research on the important issue of how institution influencing consumption. The theoretical basis of consumption economics is the theory of consumer utility maximization in the western economics, but this assumption is too abstract and divorced from reality. To regard the system as given is an important component in its abstract assumptions. According to the point of view in the new institutional economics, in a real world where transaction costs are greater than zero, different systems would have a different impact on people’s behavior and economic performance. This impact naturally also includes the impact on people’s consumption behavior and consumption performance. In order to further improve the consumption efficiency, it is necessary to reduce institutional restrictions on consumption, to further clarify the property rights in consumer spending with public funds, and reduce the transaction costs contained both in the commodity and people’s trade through institutional innovations.

Key words: consumer economics; system; transaction costs; new institutional economics