Delusions of success: Costs and demand of high-speed rail in Italy and Spain
Daniel Albalate and
Germà Bel ()
Transport Policy, 2018, vol. 68, issue C, 63-79
Mismatches between forecasted and actual costs and traffic figures are common in transport investments, especially in large scale ones, and so are delusions of the future demand. High-speed rail projects are often among the worst practices for cost overruns and demand overestimation, even where traffic figures may tell a history of apparent success.
Keywords: High-speed rail; Megaprojects; Italy; Spain; Cost overrun; Demand estimation; Optimism bias (search for similar items in EconPapers)
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