This paper develops the Value-Based Theory of Reasons in some detail. Thecentral part of the paper introduces a number of theoretically puzzling featuresof normative reasons. These include weight, transmission, overlap, and thepromiscuity of reasons. It is argued that the Value-Based Theory of Reasonselegantly accounts for these features. This paper is programmatic. Its goal is toput the promising but surprisingly overlooked Value-Based Theory of Reasonson the table in discussions of normative reasons, and to draw attention to anumber of areas for fruitful further research.