Why should the TOCs allow free travel? At the very least what Boris
should do is pick up the tab for all TOC trips made by the over-60's,
*paying the regular price* whatever that is according to the time of
day. Surely the numbers for that will drop out of the Oyster computer
'at the press of a button'.

Why should the charge be based on "the regular price"? That seems a
remarkably crude approach (c/f your own arguments about airline pricing
in December). Any normal person buying in such bulk would expect - and
get - a substantial discount as the TOCs get in return a secure source
of revenue with few overheads. What's wrong with starting from the
long-run marginal cost (LRMC) to the TOC (including of course loss of
revenue from other customers displaced) plus a profit margin?

Of course if the LRMC is too high then something has to give. Eg I'd be
inclined to keep the pre-09:30 exclusion if that is where there would be
significant displacement and so additional cost. But let's not pretend
the TOCs are losing significant revenues from, say, me getting a train
mid-afternoon which is c10% loaded for a journey I'd rarely make if I
had to pay the full fare.

--
Robin
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