12th International Conference on Law and Economics (ICLE-2026) 24-25 October, 2026 organized by Himachal Pradesh National Law University in association with Law and Economics Trust Conference organizers of the 12thInternational Conference on Law and Economics (ICLE-2026) invites original papers for oral presentations in the areas of Law and Economics - I) theme of the conference, “Positive Externalities for a Better Society”, II) received proposals for organizing technical sessions, and, III) areas of JEL Classification Codes Guide- K: Law and Economics. I) Positive Externalities for a Better Society Ronald H. Coase(1960) showed that the efficient outcome will occur under zero transaction costs and voluntary bargaining, irrespective of assignment of property rights to the parties. Accordingly, the resources will move from the lowest value to the highest value in use. Therefore, institutions will not matter to achieve the efficient outcome. Similarly, Elinor Ostrom (1990) revealed that the common property resources will be exploited efficiently by self-managed local communities, without state intervention or privatization. The research on positive externalizes (James E. Meade, 1952; Steven N.S. Cheung, 1973) indicates that the activities of beekeepers and orchardists will have positive external effects of pollination and nectar respectively, which leads to fairness in exchange. Social Capital-oriented Practices (SCoP) of the community activities will reduce wrongful consequences of transaction costs in factor and product markets (due to asymmetric information, incompletely specified contracts, passing-off and slavish imitation, privacy, coerciveness, defective and deficient goods and services, pollution, and administrative costs), so that efficient allocation of resources will be achieved. The SCoP of the community activities will also generate accurate data. The data analytics (with the help of cybertechnologies) will provide valuable information on preferences (asset specificity) and constraints (bounded rationality) on: (i) producers (profits),(ii) consumers (satisfaction), (iii) citizens (public goods) and (iv) the State(economic growth and development). Accordingly, the information will provide incentives to the SCoP of the community activities to take man-machine interactive decisions regarding public goods, quasi-public goods, merit goods and public utilities, and safety and security, within the purview of conservation of resources (natural regenerative capacity) and mitigation of pollution (natural assimilative capacity). The SCoP will allocate resources under the criteria of efficiency (Property rule-Pareto efficiency),distributive justice (Liability rule-Pareto improvement) and other justice considerations (Inalienability rule- true and self-paternalism) that will generate cooperative surplus. For example, the SCoP under fully-specified contract will lead to: (a) lower rents to the households who are living near the airports, due to noise pollution, (b) higher wages to the workers who work in poor conditions, (Compensating Variation) and (c) subsidies to innovators due to incomplete appropriability (Industry associations) (Gorringe Peter, A., 1995; Weder, R and H G Grubel,1993). The SCoP will reduce transactions costs arising due to the risks and uncertainty associated with market and State, by assigning liability on least cost avoider or highest risk bearer. This will generate positive externalities, that will promote societal well-being. The industrial revolution 1.0 to 5.0 will provide incentives to the parties to enhance their efforts regarding intensive and extensive use of resources to maximize wealth. The SCoP of community’s voting will elect those representatives who will take man-machine interactive decisions regarding allocation of resources efficiently (for example, territorial integrity, sovereignty of the state, peace, true cost prices, sovereign debt, and innovation and entrepreneurship in the market, non-market and network transactions) that will enhance their trust in the value of money. The Nobel Laureates Joel Mokyr, Philippe Aghion, and Peter Howitt (Memorial Prize in Economic Sciences, 2025) state that there is a need for efficient institutional mechanisms to enhance the use pattern of technology. The prevailing institutional mechanisms (ex-an te and ex-post) are unable to provide incentives to the parties regarding optimal utilization of technology to promote societal well-being. Accordingly, the SCoP of community activities will promote Sustainability of Human (physical, intellectual and spiritual) Energy for Sustainability of (functional and intrinsic) Utility of Life (SHE for SOUL) that will generate positive externalities for a better society. II) Received proposals for organizing Technical Sessions The Conference Coordination Committee has received proposals for organizing technical sessions, as part of the ICLE-2026.Please click on the following session title for the concept note and the associated team members. Kindly contact the correspondence session theme member for further information. A). Virtual Autopsy Practice in India: Impact on Law and Economics B). Positive externalities for a better society: In the perspectives of surgeon services C). Trade and Diplomacy: In the perspective of Positive Externalities D). Positive Externalities of NET ZERO Targets Set E). Bridging the Lab and the Market: Navigating the Interplay of Technology Transfer and Indian Legal Frameworks F). Gender Justice: Law, Economics and the Quest for Substantive Equality G). Positive Externalities for a Better Society: The Role of Armed Forces in Merit Goods and Services H). Positive Externalities of Innovation, Trade and Competition I). Law, Policy, and Economics of Open Source J). Techno-economic and Legal Aspects of Climate Resilience: In the perspective of Sustainable Development K). Conceptualizing Crime Deterrence as a Positive Externality: Inquiries into the Economics of the Criminal Justice System in India L). Positive Externalities of Litigation for a Better Society M). Designing Incentive-based Mechanisms for Nature Ecosystem Service Valuation, Nature-based Solutions, and Natural Capital N). Positive Externalities of Disability-Inclusive Policy: Law, Economics and Institutional Framework III). The areas of JEL Classification Codes Guide K: Law and Economics, https://www.aeaweb.org/jel/guide/jel.php
12th International Conference on Law and Economics (ICLE-2026)
24-25 October, 2026
organized
by
Himachal Pradesh National Law University
in association with
Law and Economics Trust
Conference organizers of the 12thInternational Conference on Law and Economics (ICLE-2026) invites original papers for oral presentations in the areas of Law and Economics - I) theme of the conference, “Positive Externalities for a Better Society”, II) received proposals for organizing technical sessions, and, III) areas of JEL Classification Codes Guide- K: Law and Economics.
I) Positive Externalities for a Better Society
Ronald H. Coase(1960) showed that the efficient outcome will occur under zero transaction costs and voluntary bargaining, irrespective of assignment of property rights to the parties. Accordingly, the resources will move from the lowest value to the highest value in use. Therefore, institutions will not matter to achieve the efficient outcome. Similarly, Elinor Ostrom (1990) revealed that the common property resources will be exploited efficiently by self-managed local communities, without state intervention or privatization. The research on positive externalizes (James E. Meade, 1952; Steven N.S. Cheung, 1973) indicates that the activities of beekeepers and orchardists will have positive external effects of pollination and nectar respectively, which leads to fairness in exchange.
Social Capital-oriented Practices (SCoP) of the community activities will reduce wrongful consequences of transaction costs in factor and product markets (due to asymmetric information, incompletely specified contracts, passing-off and slavish imitation, privacy, coerciveness, defective and deficient goods and services, pollution, and administrative costs), so that efficient allocation of resources will be achieved. The SCoP of the community activities will also generate accurate data. The data analytics (with the help of cybertechnologies) will provide valuable information on preferences (asset specificity) and constraints (bounded rationality) on: (i) producers (profits),(ii) consumers (satisfaction), (iii) citizens (public goods) and (iv) the State(economic growth and development).
Accordingly, the information will provide incentives to the SCoP of the community activities to take man-machine interactive decisions regarding public goods, quasi-public goods, merit goods and public utilities, and safety and security, within the purview of conservation of resources (natural regenerative capacity) and mitigation of pollution (natural assimilative capacity). The SCoP will allocate resources under the criteria of efficiency (Property rule-Pareto efficiency),distributive justice (Liability rule-Pareto improvement) and other justice considerations (Inalienability rule- true and self-paternalism) that will generate cooperative surplus.
For example, the SCoP under fully-specified contract will lead to: (a) lower rents to the households who are living near the airports, due to noise pollution, (b) higher wages to the workers who work in poor conditions, (Compensating Variation) and (c) subsidies to innovators due to incomplete appropriability (Industry associations) (Gorringe Peter, A., 1995; Weder, R and H G Grubel,1993). The SCoP will reduce transactions costs arising due to the risks and uncertainty associated with market and State, by assigning liability on least cost avoider or highest risk bearer. This will generate positive externalities, that will promote societal well-being.
The industrial revolution 1.0 to 5.0 will provide incentives to the parties to enhance their efforts regarding intensive and extensive use of resources to maximize wealth. The SCoP of community’s voting will elect those representatives who will take man-machine interactive decisions regarding allocation of resources efficiently (for example, territorial integrity, sovereignty of the state, peace, true cost prices, sovereign debt, and innovation and entrepreneurship in the market, non-market and network transactions) that will enhance their trust in the value of money.
The Nobel Laureates Joel Mokyr, Philippe Aghion, and Peter Howitt (Memorial Prize in Economic Sciences, 2025) state that there is a need for efficient institutional mechanisms to enhance the use pattern of technology. The prevailing institutional mechanisms (ex-an te and ex-post) are unable to provide incentives to the parties regarding optimal utilization of technology to promote societal well-being. Accordingly, the SCoP of community activities will promote Sustainability of Human (physical, intellectual and spiritual) Energy for Sustainability of (functional and intrinsic) Utility of Life (SHE for SOUL) that will generate positive externalities for a better society.
II) Received proposals for organizing Technical Sessions
The Conference Coordination Committee has received proposals for organizing technical sessions, as part of the ICLE-2026.Please click on the following session title for the concept note and the associated team members. Kindly contact the correspondence session theme member for further information.
A). Virtual Autopsy Practice in India: Impact on Law and Economics
B). Positive externalities for a better society: In the perspectives of surgeon services
C). Trade and Diplomacy: In the perspective of Positive Externalities
D). Positive Externalities of NET ZERO Targets Set
E). Bridging the Lab and the Market: Navigating the Interplay of Technology Transfer and Indian Legal Frameworks
F). Gender Justice: Law, Economics and the Quest for Substantive Equality
G). Positive Externalities for a Better Society: The Role of Armed Forces in Merit Goods and Services
H). Positive Externalities of Innovation, Trade and Competition
I). Law, Policy, and Economics of Open Source
J). Techno-economic and Legal Aspects of Climate Resilience: In the perspective of Sustainable Development
K). Conceptualizing Crime Deterrence as a Positive Externality: Inquiries into the Economics of the Criminal Justice System in India
L). Positive Externalities of Litigation for a Better Society
M). Designing Incentive-based Mechanisms for Nature Ecosystem Service Valuation, Nature-based Solutions, and Natural Capital
N). Positive Externalities of Disability-Inclusive Policy: Law, Economics and Institutional Framework
III). The areas of JEL Classification Codes Guide
K: Law and Economics, https://www.aeaweb.org/jel/guide/jel.php
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