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Marketing, Artificial Intelligence, Statistics, Innovation, Numerical Analysis, and 96 moreIndustrial Engineering, SAS, Administration, Sistemas De Innovación, Transferencia Tecnológica, Redes De Conocimiento, Computational Mathematics, TIC, Simulation, Economia, Educación, Ingeniería, Informatica, Economía, Evaluación, Gestión de Recursos Humanos, Telecomunicaciones, Brasil, Aprendizaje, Informatica educativa, Metodología y Teoría de la Investigación Social, Emprendimiento, Arte, Calidad, GERENCIA DE PROYECTOS, Gerenciamiento, Administración de Empresas, PyMEs, Análisis y gestión de políticas públicas. Barcelona: Ariel, 2008, Programacion, Tecnologia, Gestión de la calidad, Ingenieria De Sistemas, Ingeniería de Proyectos, Trabajo Social, Aprendizaje Significativo, Optimizacion y Simulación, Estadistica, Me interesan las investigaciones relacionadas con las iniciativas del open access, sobre la web 2.0 y su uso en las bibliotecas y unidades de información y estudios relacionados con la comunicación científica., Administracion, Gerencia Logistica, Modelacion Matematica, Liderazgo, ESTADISTICA E INFORMATICA, Administração, INGENIERIA, Ingeniería de Sistemas, Innovación y gestión tecnológica, ciencia, tecnología, Innovacion, Ingenieria Informatica, Universidad, Enterprise Resource Planning (ERP), Ingenieria Industrial, Quimica y procesos Industriales, Gestion, Optimizacion Cadena Suminitro, Electricidad, Ingeniería en computación, Docencia, Informetria, Cienciometria, CADENAS DE SUMINISTRO, Gerencia, RRPP, Ciência da Computação, Administracio RRHH, Ingenieria Mecanica, Seguridad Industrial, INGENIERÍA CIVIL, Ingenieria Industrial, Proyectos, Procesos Industriales., Dynamic Systems and Control, LOGISTICA, Responsabilidad Social, SUPERVISÃO E FORMAÇÃO DE PROFESSORES, HIGIENE INDUSTRIAL, Administração e Gestão Educativa, Ingeniería Industrial, Metodos Quantitativos, Bibliometría, Information Technology and System Integration, Innovacion Educativa, Optimization Technology, Teoria Curricular, Polìtica, System Modeling and Simulation, Estudio del Trabajo, Programacion No Lineal, Metodos De Programacion No Lineal, Tecnologias da Informação e da Comunicação (TIC) na Educação, Integration Technology of Automation Systems, Investigaciòn, Desarrollo Sociopolìtico cultural y econòmico, Gestiòn, Metodologias Da Investigação Educacional, Metodología De Enseñanza, Significative Learn, Proyecto De Innovación Docente, Actividad Docente, Espacio Europeo De Educación Superior (EEES), and Educacionedit
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The article first describes characteristics of major infrastructure projects. Second, it documents a much neglected topic in economics: that ex ante estimates of costs and benefits are often very different from actual ex post costs and... more
The article first describes characteristics of major infrastructure projects. Second, it documents a much neglected topic in economics: that ex ante estimates of costs and benefits are often very different from actual ex post costs and benefits. For large infrastructure projects the consequences are cost overruns, benefit shortfalls, and the systematic underestimation of risks. Third, implications for cost–benefit analysis are described, including that such analysis is not to be trusted for major infrastructure projects. Fourth, the article uncovers the causes of this state of affairs in terms of perverse incentives that encourage promoters to underestimate costs and overestimate benefits in the business cases for their projects. But the projects that are made to look best on paper are the projects that amass the highest cost overruns and benefit shortfalls in reality. The article depicts this situation as ‘survival of the unfittest’. Fifth, the article sets out to explain how the problem may be solved, with a view to arriving at more efficient and more democratic projects, and avoiding the scandals that often accompany major infrastructure investments. Finally, the article identifies current trends in major infrastructure development. It is argued that a rapid increase in stimulus spending, combined with more investments in emerging economies, combined with more spending on information technology is catapulting infrastructure investment from the frying pan into the fire.
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