Everything advertised on social media is overpriced junk

Ad targeting isn’t “efficient.”

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In “Behavioral Advertising and Consumer Welfare: An Empirical Investigation,” a trio of business researchers from Carnegie Mellon and Pamplin College investigate the difference between the goods purchased through highly targeted online ads and just plain web-searches, and conclude social media ads push overpriced junk:

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4398428

Specifically, stuff that’s pushed to you via targeted ads costs an average of 10 percent more, and it significantly more likely to come from a vendor with a poor rating from the Better Business Bureau. This may seem trivial and obvious, but it’s got profound implications for media, commercial surveillance, and the future of the internet.

Writing in the New York Times, Julia Angwin — a legendary, muckraking data journalist — breaks down those implications. Angwin builds a case study around…