Earlier quoted context omitted.
...or, you could just 1) use the raw count of inbound links, weighted by the count of inbound links of the linking pages, normalize by the total number of links on that page, and run it a few iterations to get a first approximation of the probability distribution. This is a pretty intuitive approach, would almost certainly have been good enough for Google, and avoids all the jargon, probability, and "well studied alg…
I think it's pretty easy to construct adversarial examples to your (1) that are dealt with cleanly by real pagerank. e.g. if A is a Huge Important website, and A -> B -> C, then locally looking at {B, C} will underweight C significantly. (And, sure, you might say to look at k-th order inbound links for your iterative approach, but the adversary can just move the weight to k+1). Perhaps, as you claim, your approach wo…
In any case, I’m not sure your example is actually adversarial, as there’s not an action that an adversary could take implied by it? Maybe you meant “poorly handled case”? But yes, run it iteratively. 10 steps? 20? Until convergence for some epsilon?
Nothing against theory, but I think they did fine without it.