Abstract

ARDILA GOMEZ, Arturo. Five questions and a recommendation to the authors of the article "An economic evaluation of Transmilenio". rev.ing. [online]. 2005, n.22, pp.152-162. ISSN 0121-4993.

The article "An economic evaluation of Transmilenio," by Echeverry, Ibáñez and Moya (Revista de Ingeniería No. 21), evaluates economically Phase I of the Transmilenio project finding that it was largely negative for Colombian society. In this article I challenge from five points of view the methods and results in that article. I find that said evaluation is negatively biased, because the authors overestimated the costs and underestimated the benefits. Therefore, I re-estimate the evaluation finding that Transmilenio had a positive effect on Colombian society.

Keywords : Transmilenio; cost benefit; analysis; ex post; ex ante; value of time.

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