If you would like ticket prices to rise sharply and ensure that everyone is willing to pay the higher fares, then I am sure the carriers will implement your idea.
Since ALL the carriers in the world operate overbooking, then there is clue about human behaviour in the world.
Hm, a simple counterexample. Several low-cost-carriers are said not to overbook at all. They also have way lower fares and ticket prices.
Which is the cause and which is the consequence here?
Also I looked into it and found that there used to be and sometimes is a concept called "standby ticket". Where is it used, and how does it compare with overbooking in terms of commitment to passengers?