By Pierre Far at Google Webmaster Central Blog
Page titles are an important part of our search results: they’re the first line of each result and they’re the actual links our searchers click to reach websites. Our advice to webmasters has always been to write unique, descriptive page titles (and meta descriptions for the snippets) to describe to searchers what the page is about.
We use many signals to decide which title to show to users, primarily the <title> tag if the webmaster specified one. But for some pages, a single title might not be the best one to show for all queries, and so we have algorithms that generate alternative titles to make it easier for our users to recognize relevant pages. Our testing has shown that these alternative titles are generally more relevant to the query and can substantially improve the clickthrough rate to the result, helping both our searchers and webmasters. About half of the time, this is the reason we show an alternative title.