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Reason-Giving and Rent-Seeking

In: Law and Economic Development

Author

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  • Edward H. Stiglitz

    (Cornell University)

Abstract

Political theorists and legal scholars have long regarded the practice of reason-giving as core to democratic and legal enterprises. Democratic theorists, for instance, contend that public reason-giving is essential to the deliberative process through which we form a self-regulating political community, constraining debate and public actions to be relatively other-regarding. If this claim is right, in theory reason-giving should reduce the incentives to engage in rent-seeking. Here, I establish this relationship conceptually and examine it empirically by studying a unique reform to reason-giving requirements in federal procurement. I find that requiring public officials to offer reasons for their actions is associated with less overall rent-seeking, as measured by campaign contributions—decreasing both the amount of money contributed to campaigns as well as the apparent sophistication of campaign contribution strategies.

Suggested Citation

  • Edward H. Stiglitz, 2023. "Reason-Giving and Rent-Seeking," Springer Books, in: Kaushik Basu & Ajit Mishra (ed.), Law and Economic Development, chapter 0, pages 131-160, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-24938-9_6
    DOI: 10.1007/978-3-031-24938-9_6
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