Archive for July, 2016

Delays in construction have always been a topic of concern for construction management researchers. Ahmed et al. (2003) identify delay as the most common, complex and universal phenomenon in construction which is typified by cost and time overruns (see also Abdul-Rahman et al., 2006; Arditi et al., 1985; Alaghbari et al., 2007; Xiao and Proverbs, […]

Reference class forecasting is based on theories of planning and decision-making under uncertainty that won Princeton psychologist Daniel Kahneman the Nobel prize in econ- omics in 2002 (Kahneman & Tversky, 1979a, 1979b; Kahneman, 1994). As part of their work, Kahneman and Tversky uncovered a systematic fallacy in planning and decision-making under which people underestimate the […]