Feasibility Studies That Mislead: Avoiding the Optimism Bias in Emerging Market Entry
The High Cost of “Feasible” on Paper In emerging markets, a feasibility study often functions less as an objective evaluation and more as a bureaucratic formality—a necessary step to secure funding rather than a genuine test of viability . The result is a familiar pattern: projects approved with glowing benefit-cost ratios (BCRs) and optimistic timelines that,
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