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Originally Posted by GeorgeK
Thumbler is correct, as the ranking also factors in clickthrough rates. Someone bidding $1/click with a 1% clickthrough rate will likely show up below someone else with a 50 cents/click bid but with a 10% clickthrough rate.
You can see Overture bids at:
http://uv.bidtool.overture.com/d/search/tools/bidtool/
although they can be very different from Google.
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That is true the formula is
Your Bid X CTR = Your ranking
HOWEVER, probability wise, usually the highest bidder has the highest rankings.