> In principle, advertising is a way to propagate information in a market, trying to match offer with demand.
No, that's what a Consumer Reports-style review site is. Independent review matches offer with demand. Search engines (not including the ads on search engines) match offer with demand.
There's no "matching" with ads: the goal is to jam your product in front of people as much as possible. And in fact there's often no demand to match with. Ads are just rich barging into your attention to beg for more money with lies.
> Without any such mechanism, markets would be hugely inefficient (i.e., it would be annoying to find a shop selling what you are looking for, since you would need to visit many before finding one that sells that thing).
I'd caution you against trusting anyone who talks about "efficient" without talking about what benefit is being maximized and what cost is being minimized. Ads are efficient in the sense that they help maximize sales for minimum quality of product: that's not a desirable efficiency. If we (consumers) want to maximize quality and minimize cost, then independent review is a much better way to find products.
No, that's what a Consumer Reports-style review site is. Independent review matches offer with demand. Search engines (not including the ads on search engines) match offer with demand.
There's no "matching" with ads: the goal is to jam your product in front of people as much as possible. And in fact there's often no demand to match with. Ads are just rich barging into your attention to beg for more money with lies.
> Without any such mechanism, markets would be hugely inefficient (i.e., it would be annoying to find a shop selling what you are looking for, since you would need to visit many before finding one that sells that thing).
I'd caution you against trusting anyone who talks about "efficient" without talking about what benefit is being maximized and what cost is being minimized. Ads are efficient in the sense that they help maximize sales for minimum quality of product: that's not a desirable efficiency. If we (consumers) want to maximize quality and minimize cost, then independent review is a much better way to find products.