Google's chief economist Hal Varian took the stage today to break down the value of Google to users. He spoke about two elements of value: The value of Google to users and the value of Google to advertisers. In order to estimate the value of Google to advertisers, Varian used a model to estimate the value vx - c(x) (where v = value per click, x = number of clicks and c(x) = cost of clicks) and then did some "back-of-the-napkin" math. The bottom line? Google's value to publishers and advertisers is $54 billion. In order to calculate the value of Google to users, Varian cited a the "A Day Without A Search Engine" study, which plotted students searching for the answers to questions in a library, as opposed to those that used Google to get their information. Students who searched in the library ended up averaging 22 minutes where students using Google took an average of 7 minutes, saving 15 minutes. 
Source: http://feedproxy.google.com/~r/Techcrunch/~3/CHE-8BMPX1g/
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