Question

Given what's known publicly about Google's PageRank algorithm, does PageRank account for the semantics of inbound links? That is, can PageRank tell the difference between a link that discusses the target positively or negatively and weight the results accordingly?

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Solution

No, it just considers links between pages. Original paper here: http://ilpubs.stanford.edu:8090/422/1/1999-66.pdf

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