How effective is targeted advertising?

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Stable and Fair Classification (2019, background): “, to check gender inequality in recommending high-paying jobs [26, 21, 70].”
The Economics of Privacy (2016, background): “12 According to Farahat and Bailey (2012), targeted advertising generated, on average, twice the revenue per ad as non-targeted advertising.”
Fair Personalization (2017, background): “, it has been shown that ranking and classification algorithms can discriminate in online search results [4, 16] and allow for gender inequality in serving targeted advertising for high-paying jobs [6, 8, 23].”
Toward Controlling Discrimination in Online Ad Auctions (2019, background): “Overall, such targeted advertising leads to higher utilities for the advertisers who show content to relevant audiences, for the users who view related advertisements, and for the platform which can benefit from selling targeted advertisements [22, 23, 26, 54].”