This is Delta's choice, though. There are still quite a few other airlines, for the "average" flight, and fliers still reserve the right to vote with their wallets if they perceive better value elsewhere, meaning Delta may have to adjust to that (depending on the risk they're willing to take/how accurate their personalized pricing models are).

> and fliers still reserve the right to vote with their wallets if they perceive better value elsewhere

Yup. Most likely outcome is passengers won’t care.

I think they are talking about the technical definition of free markets and the mathematical result that they result in efficient pricing under some conditions (one of the conditions is perfect pricing information).

We aren’t in an ideal capitalist system in the theoretical sense, of course. It is just a model. But it is maybe worthwhile to keep tabs on how far we’re diverged from it…