Page Rank Bleed
Page Rank bleed is the theory that Page A will loose some of its
Page Rank when it links to Page B. This happens whether the links are
internal or external as far as concept and effects. Even when there is a direct
link back there still is Page Rank bleed even though it is less.
The quesion I want to address in this article is not if there is a bleed or loss in retained page rank when you link out, but is the loss enough to affect the page rank value of that page on the Google toolbar.
According to the general accepted view there will be a difference in the retained page rank between a stand alone page (that has inbound links) with no outbound links at all, and the same page that has a non returning link to another page whether that link is external or internal.
If the difference in retained page rank is so small that it wouldn't change the Google toolbar value except in an case where the page rank of the page is at the very bottom of the scale, then links don't matter except in the extreme case where the page rank value is a bottom value.
It is an accepted page rank view that whether you have 1 or 100 non returning outbound links you get the same bleed. While returned links limit the page rank bleed, the issue of whether the links are returned or not will have no mater if there is not is not enough bleed in a non-returned links to effect the the green bar.
If we look at Wakfer's chart in his Google PageRank & How to Get It, the chart tells us it takes 18 medium valued PRx links to a page to product the same PRx value. If this is correct then each PRx link is transfering 1/18th of the PRx that is being received. Like wise when an outbound link is connected to a PRx page, 1/18 or 5.6% of the page rank will be transfered from that page.
If the above calculation is correct and 5.6% of the PR is transfer then there wouldn't be more than that bleed. If this is the case it would seem that the linking structure, be it internal, external, one way or fully meshed has little or almost no effect and doesn't need to be considered when calculating how many PRx links it takes to get your desired Page Rank.
The following rules are explain in my Page Rank Calculation article. These rules apply for links that have 50 outbound links.
Rule 1: 18 PRx links to get PRx (i.e. 18 PR5 links to get a PR5).
Rule 2: 3.339 PRx links to get PR(x-1) (i.e. 3.339 PR6 links to get a PR5).
Rule 3: 101 PRx links to get PR(x+1) (i.e. 101 PR5 links to get a PR6).
As the links you will be considering may have more or less than 50 outbound links the following rule can be used to revalue the links.
Rule 4: Revaluing links: 50/TOL = New Link Number (i.e. 25TOL = 2 Links; 100TOL = 0.5 Links)
Also you may find my article Sell Page Rank of interest. It goes over the going price for text link ads based on there page rank value.