Law and Economics: Market, Non-market and Network Transactions

Panta Murali Prasad, Ranita Nagar (Eds.)

by Mohana Raje (Welingkar Institute of Management Development and Research, India), Ravindra Tripathi (Motilal Nehru National Institute of Technology, India), Neha Jaiswal (IIT Kharagpur, India), Indrajit Dube (IIT Kharagpur, India), Navya Jain (Jamia Millia Islamia, India), Meena Osmany (Jamia Millia Islamia, India), Syed Hameedur Rahman Zaini (Aligarh Muslim University, India), Asif Akhtar Asif Akhtar (Aligarh Muslim University, India), Uday Racherla (Indian Institute of Technology Kanpur, India), Nikhil Yadav (Motilal Nehru National Institute of Technology, India), Kavita Kalyandurgmath (Welingkar Institute of Management Development and Research, India), Jagdish Raje (GEMENGSERV Pvt. Ltd, India), Hardik H. Parikh (Gujarat National Law University, Gandhinagar, India), Julian Schenten Julian Schenten (University of Applied Sciences Darmstadt, Germany), Supruet Thavornyutikarn (Thammasat University, Tailand), Upendra Baxi (University of Warwick, UK), Priyanka Tandon (Motilal Nehru National Institute of Technology, India), Ramanand Mundkur (Mundkur Law Partners, India)

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This highly recommendable book shows that law and economics are developing very well in India. Its editors deserve praise and thanks. Its authors make essential contributions to a more evidence-based law and legal scholarship in different areas of Indian law.

Prof. Dr. Hans-Bernd Schäfer
Bucerius Law School, Germany

It is heartening to note that the Conference Consortium has decided to publish the proceedings of the 2016 conference in the form of a book which is being published by Vernon Press, a renowned publisher.
I fully support the aforesaid venture and am confident that this book is going to provide immense guidance to all the stakeholders.

Justice A. K. Sikri
Judge of the Supreme Court of India

It is well known that sustainable development practices, technological innovation and good governance play a major role in the accumulation of wealth in a knowledge economy. Hence, the state promotes competition, provides incentives to conserve resources and creates opportunities for citizens to push for innovation and invention. As a result, the formulation of efficient legal rules is essential for protecting intellectual property rights, fully specified contracts and effective ex-ante and ex-post systems. However, can efficient legal rules improve societal well-being by changing the behaviour of individuals and basic social structures and trends? And if so, how can these legal rules be formulated?

In their Second International Conference on Law and Economics, the Indian Institute of Technology Kanpur aimed to address the formulation and implementation of efficient legal rules while at the same time working towards a greater dissemination of law and economics-based research. This book is the final outcome of this conference that saw over thirty presentations take place. The twelve carefully selected contributions to this volume cover a broad range of topics within law and economics from engaging with decisions makers to create a process for the routine collection of empirical evidence to perceived gender discrimination and stress among working professionals. This book is not only an important contribution to law and economics scholarship but will also be of great interest to both universities and research institutions working within the field.


Chapter 1 Introduction
Thomas S. Ulen

Chapter 2 What is Innovative Leadership? An industry perspective
Uday Racherla

Chapter 3 From explosion to radiation: Why court delays affect loan EMIs and the wider economy
Ramanand Mundkur

Chapter 4 Mergers, acquisitions,competitiveness and competition: A study of the Indian cement sector
Neha Jaiswal, Pulak Mishra, and Indrajit Dube

Chapter 5 Gender identity, perceived gender discrimination and stress
among working professionals
Navya Jain and Meena Osmany

Chapter 6 Modelling drivers of Financial Inclusion in India to aid policy-makers – an AHP approach
Syed Hameedur Rahman Zaini, and Asif Akhtar

Chapter 7 What drives level of Financial Inclusion: Study with reference to India?
Ravindra Tripathi, Priyanka Tandon, and Nikhil Yadav

Chapter 8 Need for institutional arbitration in construction contracts in India
Mohana Raje, Kavita Kalyandurgmath, and Jagdish Raje

Chapter 9 Economic analysis of Pharmaceutical Patent regime in India: A study in light of pre and post TRIPS regime
Dr. Hardik H. Parikh

Chapter 10 Governance of Nanomaterials in India: Learning from institutional analysis of the European REACH Regulation
Julian Schenten

Chapter 11 Should a Constitution contain explicit anti-corruption mechanism?
Supruet Thavornyutikarn

Chapter 12 The Way Ahead: Towards A Social Economics?
Upendra Baxi


Dr Panta Murali Prasad is Associate Professor in the Department of Economic Sciences at the Indian Institute of Technology Kanpur. Dr. Prasad works in the interdisciplinary area of Law and Economics. His first book on Business, Consumer and the Government: An Economic and Legal Aspects (India and Germany) was the first of its kind in India that took a law and economics approach to consumerism. He also works on environmentalism with a focus on water resources. He has published a few papers that include Environmental and the Role of Liability and Regulatory Systems and Ganga River Resources and the Livelihood and Urban Ground Water Contamination and its Opportunity Cost to the Households. Dr. Prasad has developed and offered courses on Law and Economics and Environmental Economics at several higher educational institutions in India and has played a crucial role in the Integrated Economics Program at the Indian Institute of Technology Kanpur. He also focused his efforts on the promotion of law and economics by organizing short-term courses (Quality Improvement Program), a global initiative of academic networks, international conferences and the formation of the Indian Association of Law and Economics.

Dr Ranita Nagar is a Professor of Economics and the Dean of Research and Publications at Gujarat National Law University, Gandhinagar. She also holds the post of Director at the GNLU Center for Law and Economics. She has PhD in Economics from Gujarat University, Ahmedabad. In addition to publications, she has been instrumental in introducing courses on law and economics at the University.

Sustainable Development, Law’s delay, evidence based legal studies, financial inclusion, bribery, gender discrimination, innovative leadership, barriers to entry/exit, medicines and the TRIPS, nanotechnology, social economics

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Bibliographic Information

Book Title
Law and Economics: Market, Non-market and Network Transactions
Number of pages
Physical size
236mm x 160mm
6 B&W
Publication date
August 2019