4 ms·
Wise moves on the part of the project proponent, had they presented their project with a 17 year construction and 11 billion euro budget it never would have bee
by liketochill 5y ago
Wise moves on the part of the project proponent, had they presented their project with a 17 year construction and 11 billion euro budget it never would have been started.
Humans are optimistic. If we knew in the beginning how long something will actually take we never would start many things.
- rocmcd 5y agoThis is the "hiding hand" principle at play. https://en.wikipedia.org/wiki/Hiding_hand_principle https://en.wikipedia.org/wiki/Hiding_hand_principle I highly recommend anyone interested in "megaprojects" to listen to this EconTalk podcast episode with Bent Flyvbjerg: https://www.econtalk.org/bent-flyvbjerg-on-megaprojects/ https://www.econtalk.org/bent-flyvbjerg-on-megaprojects/ Very insightful conversation.