Investments and trade-offs in the economics of information security


Ioannidis, C., Pym, D. and Williams, J., 2009. Investments and trade-offs in the economics of information security. In: Dingledine, R. and Golle, P., eds. Financial cryptography and data security:13th International Conference, FC 2009, Accra Beach, Barbados, February 23-26, 2009. Revised selected papers. Berlin, Heidelberg: Springer, pp. 148-166. (Lecture Notes in Computer Science; 5628)

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We develop and simulate a dynamic model of investment in information security. The model is based oil the recognition that both IT managers and users appreciate the trade-off between two of the fundamental characteristics of information security, namely confidentiality and availability. The model's parameters can be clustered in a manner that allows us to categorize and compare the responses to shocks of various types of organizations. We derive the system's stability conditions and find that they admit a wide choice of parameters. We examine tire system's responses to the same shock in confidentiality under different parameter constellations that correspond to various types of organizations. Our analysis illustrates that the response to investments in information security will be uniform in neither size nor time evolution.


Item Type Book Sections
CreatorsIoannidis, C., Pym, D. and Williams, J.
EditorsDingledine, R.and Golle, P.
DepartmentsFaculty of Humanities & Social Sciences > Economics
Faculty of Science > Computer Science
ID Code16154


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