Licensing requirements for US private security firms and guards differ substantially from state to state. State regulatory institutions for this industry also vary considerably. Some states have specialized regulatory boards with industry personnel (guards, firm owners) and/or public police as...

Many goods and services produced by government bureaus are sold at prices which do not maximize net revenues (maximize profits or minimize losses). Indeed, bureaucratic institutions typically create incentives to expand production beyond that which would maximize net revenues. Furthermore, many...