Silly question. Of course you can. The question should be, "Are there negative consequences to using affiliate links in MS adcenter PPC campaign?" I don't know the answer to that question at all.
I like the way Microsoft Adcenter works way better then Google Adsense. I am a big supporter of the Google brand, but this I have to give this notch to Microsoft. It is easy to set up PPC campaigns with affiliate links and is user friendly.
yesterday I asked Adcenter rep via their online chat, about promoting affiliate links with Adcenter.. according to him they are now not welcoming any affiliates in to their network... Here is what he has to say WTF ????
Yes You Can Promote Affiliate Links in AdCenter Campaigns But You Need To Use Some Redirection Method So That Users Or Views Redirect To Your Affiliate Links !! Good Luck !!