Abstract: This paper tries to evaluate the price-setting structure for the Spanish port authorities during the period 1986-2005. To do this, we compare the structure of the most important port fees with those results obtained using a second best mechanism based on Ramsey prices. First, we estimate a system of equations including a multiproduct shortrun cost function and the input expenditure functions in order to calculate the different marginal costs for provision of infrastructure. Then, fee elasticities of demand are obtained through the estimation of different demand functions. The results show that, in general terms, port fees do not maximize social welfare. In this sense, a new regulation which would allow port authorities set their own fees may represent an improvement for the present mechanism.

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