Inferior and Unworthy Transportation Mega-Projects

  • Joseph Berechman
Chapter

Abstract

In the previous chapters we saw that many countries, especially in the developed world, have adopted formal project appraisal and selection procedures. While not always mandatory, we might assume that their availability does facilitate the making of rational choices with respect to which projects are worthy among the proposed investment alternatives. And yet, this assumption has been proven wrong in many cases. Various surveys of mega-projects worldwide have revealed that a significant number of the projects selected are inferior to other investment alternatives or even totally unworthy (e.g., see Pickrell 1990, 1992; Flyvbjerg 2007, 2009). Why does this happen?

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Joseph Berechman
    • 1
  1. 1.City College of New YorkUniversity of New YorkNew YorkUSA

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