Although governments often respond to the prevalent cost overruns of transportation projects by reforming the agencies charged with overseeing the construction of projects, the transportation research literature has not provided statistical evidence as to whether such reforms assist in reducing...

Purpose – The delivery of construction projects in Malaysia is plagued by time overruns, which turns what should have been successful projects into those incurring additional costs, or money-losing ventures; as well as leading to various other unexpected negative effects and faute de mieux...

We study the effect on cost overruns of two different auction formats, the first price sealed bid and the average bid, conditional on whether entry is open or restricted. The first price format awards the contract to the lowest bid, while the average bid format awards the contract to the bid...

Green construction projects are initiated in complex and dynamic environments resulting in circumstances of high level of uncertainty with respect to cost and duration. This is attributed to the fact that construction of green buildings requires stricter norms in terms of environmental...

Cost overruns are endemic in military procurement projects and pervasive in other areas. This paper studies a model in which the apparent cost overruns arise not as systematic expectational errors but as equilibrium phenomena. The possibility of renegotiating payments when cost overruns occur...