EQUILIBRIUM SHORT-RUN-MARGINAL-COST PRICING OF A TRANSPORT FACILITY. THE CASE OF THE SAN FRANCISCO BAY BRIDGE

After a brief description of the San Francisco-Oakland Bay Bridge, the author derives optimal short-run tolls corresponding to a given traffic volume. Empirical estimates of the equilibrium peak period congestion tolls are derived when (a) no further investment in congestion-reducing capacity is possible, (b) the facility is used by two commuter modes and one mode of goods transport, and (C) commuters choose between the two modes available. The model is calibrated using cost and demand data for commuter trips between San Francisco and east bay. The legal aspect of implementing tolls is discussed. (TRRL)