Megaprojects Paradox
The discussion reveals a striking contradiction in the world of megaprojects: despite their dismal performance and frequent cost overruns, these massive undertakings continue to be pursued. Both the public and private sectors face significant financial repercussions, often leaving taxpayers or shareholders to bear the brunt of the failures. The conversation highlights the complexities of decision-making in these large-scale projects, including the phenomenon of the winner's curse, which complicates the bidding process.In this clip
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EconTalk
Bent Flyvbjerg on Megaprojects
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