Abstract
This paper shows that when a road is being used by two groups of users at different time periods, the standard self-financing result no longer holds under a uniform tolling regime. The cost of an optimal road may be lower or higher than the revenue from the efficient uniform toll. However, the self-financing (with or without surplus) seems to be the exception rather than the rule, and the deviation from self-financing may be quantitatively significant. As a consequence, when pricing is not discriminating between groups of homogeneous users, road users should not usually pay the full cost of road provision. (A)