This book explores the various economic and institutional factors that explain why huge investments are made in unworthy transportation mega-projects in the US and other countries. It is based on research, the general literature, economic analyses, and results from a specifically collected...

chapter 1 Objectives, Scope, and Structure -- chapter 2 The Policy Framework of Project Evaluation -- chapter 3 Welfare Foundations of Project Appraisal -- chapter 4 Transportation Benets from Infrastructure Improvements -- chapter 5 Measuring the Costs of Transportation Investment Projects --...