Empirical findings from a recent study of banner advertising in Europe suggest that "even moderate privacy regulation does reduce the effectiveness of online advertising." The paper was authored by two marketing professors - Avi Goldfarb (University of Toronto) and Catherine Tucker (MIT).
Online privacy laws are not yet as restrictive in the U.S. as in Europe. Potential implication: tightening of online privacy laws will restrict ad targeting and effectiveness.
For a copy of study, go to the following link and click "One-Click Download":
http://bit.ly/bMayjI