I've found a fascinating fascinating article on internet advertising: thecorrespondent.com/100/the-n

If you don't read it at all, just read the few paragraphs about Tadelis and eBay.


> It might sound crazy, but companies are not equipped to assess whether their ad spending actually makes money. It is in the best interest of a firm like eBay to know whether its campaigns are profitable, but not so for eBay’s marketing department.

> Its own interest is in securing the largest possible budget, which is much easier if you can demonstrate that what you do actually works.

> Randall Lewis told me about a meeting with the man responsible for evaluating Yahoo’s marketing strategy. The man had apparently done everything Lewis had advised against – and worse. He graciously admitted that he either added or omitted data to his model if it led to the ‘wrong’ results. Lewis: "I was like: oh man. All of that is bad scientific practice, but it’s actually great job preservation practice."

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> "Bad methodology makes everyone happy,” said David Reiley, who used to head Yahoo’s economics team and is now working for streaming service Pandora. "It will make the publisher happy. It will make the person who bought the media happy. It will make the boss of the person who bought the media happy. It will make the ad agency happy. Everybody can brag that they had a very successful campaign."

> Marketers are often most successful at marketing their own marketing.

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