Partially, I agree. But the current way of selling airline tickets also push price as the variable to base your choice on. Travel time is maybe a distant second

Partially, I agree. But the current way of selling airline tickets also push price as the variable to base your choice on. Travel time is maybe a distant second. (I often buy the not-cheapest ticket to get a better routing, a 10% premium often gets you a significantly shorter trip if we're talking e.g. Hawaii to Europe.) These are all very easily quantifiable variables. Maybe you can find out how on-time that flight normally is. You have to do a lot of research to figure out how much legroom you'll have on a specific flight. And knowing what your risk of getting denied boarding is almost impossible, so I'd argue that is in fact not priced into the current model. Right now it's also not possible to choose based on these variables since the choice of airline is so strongly correlated with travel time, unless you are travelling between one airline's hub and another's.