Soapy Smith gambling house. Legend has it that above the entrance of the stairway leading upstairs to the gambling games was a sign that read "caveat emptor", Latin for "let the buyer beware". Smith's younger brother, Bascomb Smith, joined the gang and operated a cigar store that was a front for dishonest poker games and other swindles, operating in one of the back rooms. Other operations included fraudulent lottery shops, a "sure-thing" stock exchange, fake watch and bogus diamond auctions, and the sale of stocks in nonexistent businesses. Because of bribes, some of the police officers patrolling the streets would not arrest
Buyer-determined auction determine under what circumstances a buyer would prefer this format have been explored. Buyer-determined auction A Buyer-determined Auction is a type of reverse auctions in a procurement setting, also known simply as procurement auctions. These are auctions where bidders are the sellers, and they bid on a contract to provide supplies to the buyer. A common form of procurement auction is known as a scoring auction. In that auction form, the score that the buyer gives each bidder depends on well-defined attributes of the offer and the bidder. This scoring function is formulated and announced prior to the start of