Using 'this' in jQuery Events

HTML

<ul>
    <li><a href="http://www.google.com">Google</a></li>
    <li><a href="http://www.bing.com">Bing</a></li>
    <li><a href="http://www.yahoo.com">Yahoo!</a></li>
</ul>

JavaScript

$('a').click(function () {
    navigate(this.href);
    return false;
});