"- Market failure: not the "best" product wins, but the one with the biggest advertisement budget behind it." This is actually a beneficial outcome. Similarly

"- Market failure: not the "best" product wins, but the one with the biggest advertisement budget behind it." This is actually a beneficial outcome. Similarly to how genetic algorithms and simulated anealing require and element of randomness to avoid getting stuck in local minima, so I suspect advertising serves the purpose of preventing us getting stuck in local minima. Equally too much randomness and the algorithms fail to converge on the global minimum and so perhaps, too much advertisement prevents us truly discovering the best products and services. Either way though, it is in finding the balance that real value is found.