Is Cybersecurity a Public Good
Full Title of Reference
Is Cybersecurity a Public Good? Evidence from the Financial Services Industry
Benjamin Powell, Is Cybersecurity a Public Good? Evidence from the Financial Services Industry, 1 J. L. Econ. & Pol'y 497 (2005). Web
- Issues: Economics of Cybersecurity; Supply Chain Issues; Incentives; Information Sharing/Disclosure; Public-Private Cooperation
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