Google Instant and Dynamic Efficiency

Google has 65% of the global web search market and a dominating presence across wide acres of the internet. Last week they launched Google Instant which produces web search results as you type and claims to lower the average time spent searching for a specific site or resource. Rory Cellen-Jones provides some of the commercial background behind this innovation in a BBC News 24 interview - he makes the point that search is the only activity that actually makes Google much money so they simply have to keep expanding what is possible to refine and speed up their search engine technologies. This is a good example of an improvement in dynamic efficiency in the market - to the wider benefit of millions of web users.