ken_b - 4:52 pm on Apr 18, 2013 (gmt 0)
That would explain the plummeting CPC prices publishers are earning.
Not all publishers are seeing lower CPC/EPC. Mine is about double what it's long term average is since I started with AdSense in late 2003.
By the same measure my CTR has taken a big dive, but the higher EPC results in about the same or better RPM.
Thr Panda and Penguin have beaten me up pretty bad though, but that's a different story.