"Good news! Surge pricing is in effect, and today your commute will cost you twice the usual price!"
People who can defer traveling to avoid traffic jams and congestion already tend to do so. Sitting in traffic is boring, stressful, and a waste of time and money. People who don’t have a good reason not to.
You're right that people who can defer traveling to avoid traffic jams and congestion already tend to do so. But there are still people at the margin. People who don't value their time or don't mind sitting in traffic listening to the radio or dislike taking the bus. These people are creating congestion, imposting a cost on everyone else, and paying nothing for it. They would do it less if they had to pay. (It's okay for people to drive and sit in traffic, there's just no reason it should be free!) So it would really be more like "Good news! Surge pricing is in effect, and today your commute will cost you twice the usual price but take half as long!"
I'd say I've experienced far fewer "what is going on with this person and are they going to end up getting someone injured?" moments on public transportation than in cars.
I often see these comparisons to cars and theyre just so dishonest, because nobody seems to mention the number one downside of driving a lot. Maybe we're desensitized to it. Driving is a fantastic way to die, one of the best.
You aren't going to change congestion unless you fix the balance between throughput and volume. Dynamic pricing doesn't improve throughput, and it doesn't decrease volume- it just forces some of that volume onto less well equipped roads.
The volume on the tollway itself may decrease, but only because drivers suddenly need to take other roads that the tollway was designed to alleviate pressure from in the first place.
They are if you price it properly. If it costs $1000 to get on that road, a lot of people are going to find alternative means of transport, carpool, or forgo the trip entirely.
Los Angeles has many such examples, one recent and well studied one was the closure of the 10 freeway after a fire.
All of these factors and more affect demand for transportation.
earmark this money in a way that can't be siphoned and build public transportation with it. in addition buy fleets of buses with the cash that are exempt and analyze the destinations and origins of the traffic and put them there.