Please note: there is no funding attached to this project. The successful applicant will be expected to provide the funding for tuition fees and living expenses, via external sponsorship or self-funding.
Traffic congestion is globally one of the most costly and pervasive societal problems. Vehicles impose four main categories of costs on society: congestion (e.g. loss of time, traffic management), accident externalities, pollution, and road damage. Urban adaptation, such as investments in upgraded transport systems or climate-resilient construction, could result in “one of the largest global infrastructure build-outs in history.” It is vital, therefore, to find and convey the appropriate signals for commercial opportunities monetising potential adaptation benefits. One of the most important signals is the determination of optimal prices incentivising efficient decisions not only for road use in the short run, but also for road system capacity investment in the long run. In principle, road-specific fees on motorists using congestible roads induce them to account for the negative social costs their road use imposes on fellow commuters (i.e. aggregate wages foregone). In practice, technology enables the efficient scheduling and real-time pricing of road use in order to manage traffic congestion, enhance safety, reduce pollution, and raise revenue for transport infrastructure improvements.
The concept of efficient network capacity pricing is well established in wholesale electricity markets. Efficient road use pricing, however, has become feasible only recently due to the availability of technology allowing, in real time, the communication of user preferences and the optimisation of transport routes. The established tools of energy commodity trading, such as continuous portfolio optimisation, can then be deployed in the setting of a road system. In particular, innovative approaches to road capacity allocation, including a tradable credit scheme or ride-sharing services, have the potential to transform the overarching framework of urban mobility. Moreover, purpose-built apps expand route choice and assist the risk mitigation of accidents and pollution, and appropriate laws, regulations, and spatial or temporal markets are established to support novel approaches to financing. There is, therefore, a genuine prospect not only for the provision of timely and convenient transportation services, but also for the education of road users on climate change adaption benefits. Given the relative propensities for market or state failure, how could society reckon the net benefits of alternative policies for road capacity allocation, such as the creation of markets, the imposition of Pigouvian taxes, or the establishment of command-and-control regulation?
For informal enquiries about the project, contact Professor Volker Röben ([Email Address Removed])
For general enquiries about the University of Dundee, contact [Email Address Removed]
Our research community thrives on the diversity of students and staff which helps to make the University of Dundee a UK university of choice for postgraduate research. We welcome applications from all talented individuals and are committed to widening access to those who have the ability and potential to benefit from higher education.
QUALIFICATIONS
Applicants must have obtained a 2.1 UK honours degree or higher in a relevant discipline, or equivalent for degrees obtained outside the UK (for equivalent entry requirements, please see our international pages). Applicants should normally have a good taught Masters degree (e.g. an average of B or higher) or equivalent in a relevant discipline from a recognised university.
English language requirement: IELTS (Academic) overall score must be at least 6.5 (with not less than 6.5 in writing and not less than 6.0 in reading, listening and speaking). The University of Dundee accepts a variety of equivalent qualifications; please see full details of the University’s English language requirements here: www.dundee.ac.uk/guides/english-language-requirements.
APPLICATION PROCESS
Step 1: Email Professor Volker Röben ([Email Address Removed]) to (1) send a copy of your CV and (2) discuss your potential application and any practicalities (e.g. suitable start date).
Step 2: After discussion with Professor Röben, formal applications can be made via our direct application system. When applying, please follow the instructions below:
Candidates must apply for the Doctor of Philosophy (PhD) degree in the Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP) using our direct application system: CEPMLP.
Please select the study mode (full-time/part-time) and start date agreed with the lead supervisor.
In the Research Proposal section, please:
- Enter the lead supervisor’s name in the ‘proposed supervisor’ box
- Enter the project title listed at the top of this page in the ‘proposed project title’ box
In the ‘personal statement’ section, please outline your suitability for the project selected.
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