The Positioning of Advertising
The first thing you should know is that there is no universal position that is guaranteed to improve your earnings. That being said, the part above about experimenting is meant to be taken literally. You have to try as many setups as you can to find the solution with the greatest benefit.
Generally the most profitable ads are placed within the main content, generally right above it. But this is by no means a rule and there are some exceptions to it. One known exception is having a news site or something similar to a new site.
If this is your case, you will often find that you generate more earnings by placing your ads at the bottom of the content, right before comments begin. This is because as users finish reading a story, they have a short moment where they're looking for something more to do. And your AdSense ads can offer them that something.
Also, placing ads to the left side of your page seems to work better almost all the time. Of course, this is logical because text is generally written from left to right (unless you come from certain countries where it's the other way around).
People will finish a sentence and return their eyes to the left position, which means they have a higher chance of spotting your ads.
Also, there's a bit more to this then just having ads visually in the right place. If you have more then one ad you have to worry about where they're located in the code as well. And there's a very good reason for this concern.
AdSense fills the ads in the order it finds them in the source. That means that if the first add you have in the code isn't the one generating the highest revenue, you may soon start to lose money, rather then earn more.
This is because if AdSense doesn't have anymore ads it will supplement your space with public service ads or just leave it blank altogether. That means that, if you're unlucky, you could end up with your most profitable locations not having any good ads at all. To supplement your revenues
Of course, you always need to have ads that blend in with your content and generally don't make the visitor's presence on your site an unpleasant one. The key is providing an enjoyable experience for your visitor, whilst generating revenues from their exploration.
And again, ultimately the best revenue will be earned through a lot of experimentation. Be sure to use AdSense's channels feature and be on the look out for how certain ads in your pages are doing whilst altering the positions to better supplement your earnings.
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