An Introduction to Key Themes in the Economics of Cyber Security
Full Title of Reference
An Introduction to Key Themes in the Economics of Cyber Security
Full Citation
Neil Gandal, "An Introduction to Key Themes in the Economics of Cybersecurity," in Cyber Warfare and Cyber Terrorism (IGI Global eds., 2008).
Categorization
Issues: Economics of Cybersecurity
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Synopsis
Software security is an important concern for vendors, consumers, and regulators since attackers who exploit vulnerabilities can cause significant damage. In this brief paper, I discuss key themes in the budding literature on the economics of cyber-security. My primary focus is on how economics incentives affect the major issues and themes in information security. Two important themes relevant for the economics of cyber security issues are (i) a security externality and (ii) a network effect that arises in the case of computer software. A nascent economics literature has begun to examine the interaction between vulnerability disclosure, patching, product prices and profits.
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