You can get out your trusty slide rule and calculator, but ever since smart pricing went into effect there's been some voodoo math going on behind the scenes. Jenstar talks about Adsense's smart pricing on her blog and gives us a little more insight into what the man behind the curtain is up to:
Smart pricing affects an entire account. It is not on a per page or per site basis.
One poorly converting site can result in smart pricing impacting an entire account, even sites completely unrelated to the poorly converting one.
Smart pricing is evaluated each week. So removing ads from sites you suspect are converting poorly could result in seeing an adjustment to a higher smart pricing percent in as little as a week.
Smart pricing is tracked with a 30 day cookie, so you could be rewarded for new conversions that saw the initial click from your site up to 29 days earlier.
Image ads are also affected by smart pricing.
With smart pricing, an advertiser could end up paying less than their minimum bid, which would theoretically include the minimum bid price available, meaning publishers earn less for even the minimum valued clicks.
For advertisiers this is good, as it helps keeps costs low and may even act as a penalty against splog networks. However with competition for contextual advertising starting to heat, and with competition from YPN and Chitika's mini, malls this kind of information doesn't help Adsense look like the best game in town.