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Policy Influence and Private Returns from Lobbying in the Energy Sector

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  • Karam Kang

Abstract

In this article, I quantify the extent to which lobbying expenditures by firms affect policy enactment. To achieve this end, I construct a novel dataset containing all federal energy legislation and lobbying activities by the energy sector during the 110th Congress. I then develop and estimate a game-theoretic model where heterogeneous players choose lobbying expenditures to affect the probability that a policy is enacted. I find that the effect of lobbying expenditures on a policy's equilibrium enactment probability to be statistically significant but very small. Nonetheless, the average returns from lobbying expenditures are estimated to be over 130%.

Suggested Citation

  • Karam Kang, 2016. "Policy Influence and Private Returns from Lobbying in the Energy Sector," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 83(1), pages 269-305.
    • Handle: RePEc:oup:restud:v:83:y:2016:i:1:p:269-305.
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    File URL: http://hdl.handle.net/10.1093/restud/rdv029
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