Bidders strategically choose auctions to maximize revenue in public auctions.
The article discusses how bidders with different valuations choose between auctions with different prizes. It shows that bidders with high valuations go to auctions with higher prizes, while bidders with low valuations go to auctions with lower prizes. There is also a situation where strong bidders go to the high prize auction, while weak bidders may go to either auction, but more likely to the low prize one. The article also finds the best minimum bids for sellers to make the most money.