Is Cybersecurity a Public Good: Difference between revisions
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==Categorization== | ==Categorization== | ||
* Threats and Actors: [[Financial Institutions and Networks]] | |||
* Issues: [[Economics of Cybersecurity]]; [[Supply Chain Issues]]; [[Incentives]]; [[Information Sharing/Disclosure]]; [[Public-Private Cooperation]] | * Issues: [[Economics of Cybersecurity]]; [[Supply Chain Issues]]; [[Incentives]]; [[Information Sharing/Disclosure]]; [[Public-Private Cooperation]] | ||
Revision as of 11:13, 25 June 2010
Full Title of Reference
Is Cybersecurity a Public Good? Evidence from the Financial Services Industry
Full Citation
Benjamin Powell, Is Cybersecurity a Public Good? Evidence from the Financial Services Industry, 1 J. L. Econ. & Pol'y 497 (2005). Web
Categorization
- Threats and Actors: Financial Institutions and Networks
- Issues: Economics of Cybersecurity; Supply Chain Issues; Incentives; Information Sharing/Disclosure; Public-Private Cooperation
Key Words
Cybersecurity as an Externality, Cybersecurity as a Public Good, Distributed Denial of Service, Information Asymetries, The Tragedy of Commons,
Synopsis
After September 11th many government officials have become concerned with the possibility of terrorists launching attacks on the U.S. through the internet. Cybersecurity in industries that form our economy's “critical infrastructure” have been of particular concern. This paper examines the economics of cybersecurity. The economics of externalities, public goods, market failure, and government failure are all explored as they relate to cybersecurity. The financial services industry is clearly an area of critical infrastructure in our economy. This industry provides a case study to examine whether the market is providing the efficient level of cybersecurity or whether government intervention is required.
Additional Notes and Highlights
* Outline key points of interest