Essays on cost overruns in infrastructure provision

Abstract Cost overruns are an endemic feature of transport infrastructure provision all over the world. In the last decades, a considerable amount of studies has been devoted to assessing the magnitude and determinants of cost overruns in the transportation sector. However, empirical findings are scattered among different strands of literature, ranging from the fields of construction engineering and management to that of applied economics. To shed light on the determinants of cost overruns in the execution of transport infrastructure projects, we conduct a systematic review of the empirical literature on the topic. Of the 945 articles retrieved, 26 articles published between the years 2000 and 2016 meet our inclusion criteria. For them, we describe the different empirical approaches, provide a classification of the determinants employed in the analyses and summarise their impact on cost overruns. Finally, we discuss some directions and concerns for further research in the field.