Abstarct: In recent decades, large religious events have attracted the attention of researchers in the fields of economics, social sciences, and public policy as multidimensional phenomena. These events are not considered merely ritual gatherings, but have significant economic effects due to the large scale of human participation, the circulation of financial resources, voluntary mobilization, and the formation of popular networks. In the meantime, the Arbaeen pilgrimage, as one of the largest religious gatherings in the world, is a unique example of transnational collective action whose economic potential can be analyzed beyond the conventional frxameworks of event economics. The Arbaeen economy cannot be explained solely in terms of conventional market indicators such as supply and demand or the pricing of services, because a significant part of the economic interactions of this event are formed in the context of informal relations, vows, endowments, and voluntary participation. This feature causes the logic governing the economic behavior of actors to be baxsed on value, normative, and religious motives rather than on maximizing individual benefit. From this perspective, the Arba'in economy can be considered an example of the coexistence of economic rationality and value rationality, the analysis of which requires the use of interdisciplinary approaches. On the other hand, the high volume of financial and non-financial resources that circulate during Arba'in indicates the formation of a temporary but coherent economic system whose functions operate in a self-organized manner and without complete reliance on formal government mechanisms. Processions, popular networks, benefactors, and volunteers constitute the main components of this system, and each plays a specific role in providing the goods and services needed by pilgrims. Examining this structure can help to better understand new models of popular economic governance.