Once upon a time, in an internet far, far away, a young boy had a dream, that one day the internet would deliver a state of perfect information which would provide the basis for perfect competition. That is, assuming that all agents are rational and have perfect information, they will choose the best products, and the market will reward those who make the best products with higher sales. Perfect information would practically mean that all consumers know all things, about all products, at all times, and therefore always make the best decision regarding purchase. In competitive markets, unlike game-theoretic models, perfect competition does not require that agents have complete knowledge about the actions of others; all relevant information is reflected in prices.
That boy was Chris Hitchen, CEO of GetPrice, a shopping comparison tool. He joins me today to share his dream for a perfect world and to explain why CPA is the thing smart marketers worry about, not CPC.
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