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PageRank and Hub and Authority generalization based on the topic of Web Pages. Definition of a model where a surfer can move forward (following an out-going link) and backward (following an in-going link in the inverse direction). [PS format]
HITs is a link-structure analysis algorithm which ranks pages by "authorities" (pages which have many incoming links and provide the best source of information on a given topic) and "hubs" (pages which have many outgoing links and provide useful lists of possibly relevant pages). Ranking is performed at query time.
First Stanford paper about PageRank. It is a static ranking, performed at indexing time, which interprets a link from page A to page B as a vote, by page A, for page B. Web is seen as a direct graph and votes recursively propagate from nodes to nodes. Ranking is performed at indexing time. Used by Google.