The effective action for chiral W3 gravity is studied. It is shown tha
t the computation of the effective action can be reduced to that of a
SL(3, R) Wess-Zumino-Witten theory. If one assumes that the effective
action for the Wess-Zumino-Witten model is identical to the WZW action
up to multiplicative renormalizations, then the effective action for
W3 gravity is, to all orders, given by a constrained WZW model. The mu
ltiplicative renormalization constants of the WZW model are discussed
and it is analyzed which particular values of these constants are cons
istent with previous one-loop calculations, and which reproduce the KP
Z formulas for gravity and their generalizations for W3 gravity.