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20132022
most citedUnderestimating Costs in Public Works Projects: Error or Lie?

1k citations · 3.5k across the 34 of their papers we have counts for

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Showing econ.GNShow all

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econ.GN2022

How to Solve Big Problems: Bespoke Versus Platform Strategies

Atif Ansar, Bent Flyvbjerg

How should government and business solve big problems? In bold leaps or in many smaller moves? We show that bespoke, one-off projects are prone to poorer outcomes than projects bui…

econ.GN2022★ 198 cited

Top Ten Behavioral Biases in Project Management: An Overview

Bent Flyvbjerg

Behavioral science has witnessed an explosion in the number of biases identified by behavioral scientists, to more than 200 at present. This article identifies the 10 most importan…

econ.GN2018★ 34 cited

Planning Fallacy or Hiding Hand: Which Is the Better Explanation?

Bent Flyvbjerg

This paper asks and answers the question of whether Kahneman's planning fallacy or Hirschman's Hiding Hand best explain performance in capital investment projects. I agree with my…

econ.GN2016★ 14 cited

The Oxford Olympics Study 2016: Cost and Cost Overrun at the Games

Bent Flyvbjerg, Allison Stewart, Alexander Budzier

Given that Olympic Games held over the past decade each have cost USD 8.9 billion on average, the size and financial risks of the Games warrant study. The objectives of the Oxford…

econ.GN2016★ 5 cited

Big is Fragile: An Attempt at Theorizing Scale

Atif Ansar, Bent Flyvbjerg, Alexander Budzier +1

In this paper we characterise the propensity of big capital investments to systematically deliver poor outcomes as "fragility," a notion suggested by Nassim Taleb. A thing or syste…

econ.GN2015

The Principle of the Malevolent Hiding Hand; or, the Planning Fallacy Writ Large

Bent Flyvbjerg, Cass R. Sunstein

We identify and document a new principle of economic behavior: the principle of the Malevolent Hiding Hand. In a famous discussion, Albert Hirschman celebrated the Hiding Hand, whi…