The Infrastructure We Ride On

Decision Making in Transportation Investment

  • Joseph Berechman

Table of contents

  1. Front Matter
    Pages i-xv
  2. Joseph Berechman
    Pages 1-7
  3. Joseph Berechman
    Pages 9-18
  4. Joseph Berechman
    Pages 51-80
  5. Joseph Berechman
    Pages 81-91
  6. Joseph Berechman
    Pages 93-106
  7. Joseph Berechman
    Pages 107-126
  8. Joseph Berechman
    Pages 127-146
  9. Joseph Berechman
    Pages 169-186
  10. Back Matter
    Pages 187-194

About this book

Introduction

This book explores the various economic and institutional factors that explain why huge investments are made in unworthy transportation mega-projects in the US and other countries. It is based on research, the general literature, economic analyses, and results from a specifically collected database showing that a significant proportion of implemented mega-projects have been found to be inferior ex-ante or incapable of delivering the returns they promised ex-post. Transportation infrastructure and other public investments of a similar scope (“mega-projects”) reflect public sector priorities and objectives, non-pecuniary as well as financial constraints, and a range of decision-making processes. This book describes how decisions made in the public sector with respect to transportation infrastructure investments are affected by the large populations and territories they serve, the estimation of the substantial opportunity costs they entail, the formal procedures instituted for quantitatively appraising projected outcomes and monetary returns, and the political environment in which these decisions are made.

Keywords

transportation transportation economics infrastructure pork project evaluation technical bias lobbying special interest groups project evaluation investment Washington cost benefit analysis

Authors and affiliations

  • Joseph Berechman
    • 1
  1. 1.City College of New YorkUniversity of New YorkNew York, NYUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-74606-7
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2018
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-74605-0
  • Online ISBN 978-3-319-74606-7
  • About this book