I think it depends how it's used. IE have to get permission for any price increases, so the standard ticket price should remain the maximum. If variable pricing can encourage people who can be flexible in their travel plans to switch to off-peak services to avail of discounts, that is a good thing.
However, if an airline-style model were adopted, where prices of highly used services skyrocket in an effort to force people to travel off-peak, I think the result would be the opposite of the desired effect, and people would switch to cars and busses in droves.
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