An Options Approach to Cybersecurity Investment
- Submitting institution
-
University of Greenwich
- Unit of assessment
- 11 - Computer Science and Informatics
- Output identifier
- 24378
- Type
- D - Journal article
- DOI
-
10.1109/ACCESS.2017.2773366
- Title of journal
- IEEE Access
- Article number
- -
- First page
- 12175
- Volume
- 6
- Issue
- -
- ISSN
- 2169-3536
- Open access status
- Compliant
- Month of publication
- -
- Year of publication
- 2017
- URL
-
-
- Supplementary information
-
-
- Request cross-referral to
- -
- Output has been delayed by COVID-19
- No
- COVID-19 affected output statement
- -
- Forensic science
- No
- Criminology
- No
- Interdisciplinary
- No
- Number of additional authors
-
2
- Research group(s)
-
-
- Citation count
- 5
- Proposed double-weighted
- No
- Reserve for an output with double weighting
- No
- Additional information
- This paper applies real-options to cyber investments offering analytical solutions regarding the effect of timing and cyber security risk on investment behaviour. Its original contribution lies within the consideration of timing of investment and the rate of cyber-attacks, which had been previously ignored within economic models. The analysis and tool show that greater uncertainty raises the value of the embedded option to invest in cybersecurity. Interestingly, a greater likelihood of the availability of a cybersecurity patch makes the option to invest in cybersecurity particularly valuable under high cost uncertainty. This work was a collaboration with Technical University of Munich.
- Author contribution statement
- -
- Non-English
- No
- English abstract
- -
