Book Talk: The Evaluation of Transportation Investment Projects
Dr. Robert Paaswell, Interim President, City College of New York, invites you to a special "Book Talk" with Professor Joseph Berechman, Chair, Economics, The City College of New York.
The Evaluation of Transportation Investment Projects
Politicians and policymakers often tout the economic and social benefits of large-scale transportation infrastructure investments, however the projects they promote are frequently approved without the benefit of thorough economic analyss. Dr. Joseph Berechman's new book, "The Evaluation of Transportation Investment Projects," (Routledge, 2009) contends that investment decisions about multi-billion dollar capital projects rely too heavily on preliminary cost estimates and demand forecasts, without considering key issues such as a project's risks, capital costs financing, latent demand and others. The end result is significant cost overruns, with ridership and revenue below projections. In his book, Professor Berechman sets out to construct a comprehensive and methodical economic, planning and decision-making framework for evaluating transportation projects in the 21st Century.