The authors of the present paper are aware of only a few studies that have previously
tried to provide a similar overview of findings in this field, none of
which satisfies the purpose of the present review. Van Wee (2007) provides a
joint review of the quality of cost and demand forecasts for large infrastructure
projects, but the review only summarises the findings of two ex-post appraisals
of demand forecasts, both of which shall also be covered here in more detail.
The limited number of studies included in Van Wee’s contribution is partly due
to differences in scope, as the author also covers the accuracy of cost estimates.
However, the very limited items included for review brings into question the
robustness of the findings. Brinkman (2003) and Nicolaisen (2012) both offer
more detailed overviews of prior studies of demand forecast accuracy.
However, in both cases these serve mainly as context for other inquiries and
omit several studies that would be equally relevant for the purposes of the
present review