Arbeitspapier
Cost Overrun at the Norwegian Continental Shelf: The Element of Surprise
We examine drivers of cost overruns in Norwegian development projects in the oil and gas sector. The multivariate longitudinal econometric analysis employs a unique and detailed dataset consisting of 80 different projects between 2000 and 2015. Among the significant results, we find that the unexpected change in economic activity has a positive effect on the overruns; there is a considerable positive momentum in the transitional cost overruns; more experienced operators tend to incur less overruns; finally, that the size of the investment of the projects has a positive impact on the overruns. Further, we find evidence that the current economic activity matters to an extent, but it is the unexpected change in activity that is the pivotal factor.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 5886
- Klassifikation
-
Wirtschaft
Model Construction and Estimation
Firm Behavior: Empirical Analysis
Multiple or Simultaneous Equation Models: Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- Thema
-
cost overrun
cost estimation
estimation error
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Oglend, Atle
Osmundsen, Petter
Lorentzen, Sindre
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2016
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Oglend, Atle
- Osmundsen, Petter
- Lorentzen, Sindre
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2016
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