Organisations initiating a feasibility study for a novel, complex, or unfamiliar project commence with an inherently limited starting knowledge base, and often face an asymmetric information disadvantage to suppliers and competitors. While there is substantial technical literature for informing...

Megaprojects to deliver public infrastructure are said to perform terribly, yet governments continue to initiate them. Though irrationality and biases may play some role, there may be other explanations for these decisions. By building on Hirschman's Hiding Hand and Flyvbjerg's concept of...