Cybersecurity economics can be defined as a field of research that utilizes a socio-technical perspective to investigate economic aspects of cybersecurity such as budgeting, information asymmetry, governance, and types of goods and services, to provide sustainable policy recommendations, regulatory options, and practical solutions that can substantially improve the cybersecurity posture of the interacting agents in the open socio-technical systems. A fundamental issue that must be addressed is what makes cybersecurity economics a single subject of investigation. Indeed, cybersecurity and economics each constitute distinct types of investigation, as reflected in the fact that they have long been studied as two separate disciplines by two large independent groups of researchers, respectively, information and computer scientists and economists.<\/p>\n\n\n\n
Therefore, there might be barriers to understanding how together they constitute a single field of study. It can be argued that cybersecurity economics should be understood as an interdisciplinary field of study that falls between and combines cybersecurity and economics. The world is facing a growing prevalence of increasingly sophisticated, targeted, and malicious cyberattacks. This new reality forces us to continually evolve our understanding of our cyberenvironment and to re-evaluate and update our security posture in ways that minimize the growing cyberrisks to ourselves, our infrastructure, and our businesses. In doing so, we must recognize that any comprehensive cybersecurity strategy includes more than just technical elements. It must also include aspects of leadership, societal, and corporate culture and encompass larger economic and even sociopolitical elements (e.g., national security).<\/p>\n","protected":false},"excerpt":{"rendered":"
Cybersecurity economics can be defined as a field of research that utilizes a socio-technical perspective to investigate economic aspects of cybersecurity such as budgeting, information asymmetry, governance, and types of goods and services, to provide sustainable policy recommendations, regulatory options, and practical solutions that can substantially improve the cybersecurity posture of the interacting agents in… <\/p>\n