电子商务导致一些行业的市场中介被置换或者淘汰,互联网对于广告是否也具有这种“去中介化”的影响呢?本文剖析了谷歌(Google)广告系统的构成和运行机制,发现搜索引擎广告能够比传统广告以更低成本实现更加精准的信息传递,使得传统广告的一些基本业务可能被置换或淘汰。互联网能够赋予用户更多的主动权,从而使基于大众传播模式的传统广告面临着一场根本性的变革。 E-commerce has led to the replacement and elimination of market intermediaries in some industries. Does the Internet also have such an impact on the intermediation of advertising? This article analyzes the composition and operation mechanism of Google’s advertising system and finds that search engines Advertising can achieve more accurate information delivery at a lower cost than traditional advertising, rendering some of the basic business of traditional advertising possible to be replaced or eliminated. Internet can give users more initiative, so that traditional advertising based on mass communication mode is facing a fundamental change.