Cybersecurity is an increasing problem for which the market may fail to produce a solution. The ultimate source is that computer owners lack adequate incentives to invest in security because they bear fully the costs of their security precautions but share the benefits with their network partners. In a world of positive transaction costs, individuals often select less than optimal security levels. The problem is compounded because the insecure networks extend far beyond the regulatory jurisdiction of any one nation or even coalition of nations. This book brings together the views of leading law and economics scholars on the nature of the cybersecurity problem and possible solutions to it. Many of these solutions are market based, but they need some help, either from government or industry groups or both. Indeed, the cybersecurity problem prefigures a host of 21st century problems created by information technology and the globalization of markets.

The Workshop on the Economics of Information Security (WEIS) is the leading forum for interdisciplinary scholarship on information security, combining expertise from the fields of economics, social science, business, law, policy and computer science. Prior workshops have explored the role of incentives between attackers and defenders, identified market failures dogging Internet security, and assessed investments in cyber-defense. Current contributions build on past efforts using empirical and analytic tools to not only understand threats, but also strengthen security through novel evaluations of available solutions. Economics of Information Security and Privacy III addresses the following questions: how should information risk be modeled given the constraints of rare incidence and high interdependence; how do individuals' and organizations' perceptions of privacy and security color their decision making; how can we move towards a more secure information infrastructure and code base while accounting for the incentives of stakeholders?

This book examines the intersection between cybersecurity and the law and economy of India, and offers a course of action in designing efficacious policies against emerging cybercrimes. It is of interest to researchers and students of cybersecurity, law and economics, and international relations as well as Indian policy makers.

This timely and important book illuminates the impact of cyber law on the growth and development of emerging and developing economies. Using a strong theoretical framework firmly grounded in resource-based and technology diffusion literature, the authors convey a subtle understanding of the ways public and private sector entities in developing and emerging countries adopt cyber space processes. This book reveals that the diffusion of cyber activities in developing and emerging economies is relatively low, with the main stumbling blocks resting in regulatory, cultural, and social factors. The authors argue that cyber crimes constitute a prime obstacle to the diffusion of e-commence and e-governments in developing economies, and governments have an important role in developing control mechanisms in the form of laws. However, setting appropriate policies and complementary services, particularly those affecting the telecommunications sector and other infrastructure, human capital and the investment environment, severely constrains Internet access. Using both strategic and operational perspectives, the authors discuss the concrete experience of constructing and implementing cyber laws and cyber security measures in developing and emerging countries, and analyse their content and appropriateness. Professionals, academics, students, and policymakers working in the area of cyber space, e-commerce and economic development, and United Nations entities working closely with the Millennium Development Goals, will find this book an invaluable reference.

Designed for managers struggling to understand the risks in organizations dependent on secure networks, this book applies economics not to generate breakthroughs in theoretical economics, but rather breakthroughs in understanding the problems of security.

We depend on information and information technology (IT) to make many of our day-to-day tasks easier and more convenient. Computers play key roles in transportation, health care, banking, and energy. Businesses use IT for payroll and accounting, inventory and sales, and research and development. Modern military forces use weapons that are increasingly coordinated through computer-based networks. Cybersecurity is vital to protecting all of these functions. Cyberspace is vulnerable to a broad spectrum of hackers, criminals, terrorists, and state actors. Working in cyberspace, these malevolent actors can steal money, intellectual property, or classified information; impersonate law-abiding parties for their own purposes; damage important data; or deny the availability of normally accessible services. Cybersecurity issues arise because of three factors taken together - the presence of malevolent actors in cyberspace, societal reliance on IT for many important functions, and the presence of vulnerabilities in IT systems. What steps can policy makers take to protect our government, businesses, and the public from those would take advantage of system vulnerabilities? At the Nexus of Cybersecurity and Public Policy offers a wealth of information on practical measures, technical and nontechnical challenges, and potential policy responses. According to this report, cybersecurity is a never-ending battle; threats will evolve as adversaries adopt new tools and techniques to compromise security. Cybersecurity is therefore an ongoing process that needs to evolve as new threats are identified. At the Nexus of Cybersecurity and Public Policy is a call for action to make cybersecurity a public safety priority. For a number of years, the cybersecurity issue has received increasing public attention; however, most policy focus has been on the short-term costs of improving systems. In its explanation of the fundamentals of cybersecurity and the discussion of potential policy responses, this book will be a resource for policy makers, cybersecurity and IT professionals, and anyone who wants to understand threats to cyberspace.