Investments and Trade-offs in the Economics of Information Security

Reference:

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: Proceedings of the 13th International Conference on Financial Cryptography and Data Security. Vol. 5628/2009. 5628 ed. Berlin, Heidelberg: Springer, pp. 148-166. (Lecture Notes in Computer Science)

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Official URL:

http://dx.doi.org/10.1007/978-3-642-03549-4_9

Abstract

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.

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