Mark over at 45n5.com asks a very common question we hear; which is better, having Adsense on a page or utilizing affiliate links? My advice would be that it completely depends on the type of page you are designing. If it’s a topic that people are gathering information, or doing some research, then Adsense would seem to fit.
One of Mark’s commenter’s noted that they had a luxury homes page up where affiliate links didn’t do very well, however Adsense earned quite a bit of money. This would make sense, as I don’t imagine many people would click on an affiliate link and make any purchase related to luxury homes just from a website.
Now, if you are designing a page targeting people who are in a buying mood, well this is where the affiliate links become very powerful. If you design your site as a funnel, directing people to make a purchase through affiliate links, this should be more effective than simply putting up Adsense ads. If you have a page with a bunch of informational content and articles, then try out Adsense. Give people something to click on in their search for more information.
In either case, if one isn’t working out well for you, nothing other than a little effort prevents you from trying out the other.