Conversion Rates Don't Vary Much with Ad Position

For today's Inside AdWords post Google has a note from our Chief Economist at Google, Hal Varian. Hal and his team spend most of their time studying the AdWords auction and finding ways to make it more efficient. Today he'd like to share some research that he and his team have done on conversion rates by ad position:

Advertisers often ask Google how conversion rates vary with position. Everyone is aware that higher positions tend to get more clicks and therefore more conversions in total. The question of interest is how does the conversion rate (conversions/clicks) vary with position?

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