메뉴 건너뛰기




Volumn 114, Issue 2, 2008, Pages 793-804

An economic analysis of the optimal information security investment in the case of a risk-averse firm

Author keywords

Expected utility theory; Information security; Optimal investment

Indexed keywords

DECISION THEORY; ECONOMIC ANALYSIS; FINANCE; INFORMATION SERVICES; INVESTMENTS; RISK ANALYSIS; RISKS; SECURITY OF DATA;

EID: 46849085979     PISSN: 09255273     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ijpe.2008.04.002     Document Type: Article
Times cited : (99)

References (39)
  • 1
    • 84925838576 scopus 로고    scopus 로고
    • Anderson, R., 2001. Why information security is hard: An economic perspective. In: Presented at the 17th Annual Computer Security Applications Conference, West Lafayette, IN, USA
    • Anderson, R., 2001. Why information security is hard: An economic perspective. In: Presented at the 17th Annual Computer Security Applications Conference, West Lafayette, IN, USA
  • 2
    • 13444274614 scopus 로고    scopus 로고
    • Evaluating information security investments using the Analytic Hierarchy Process
    • Bodin L.D., Gordon L.A., and Loeb M.P. Evaluating information security investments using the Analytic Hierarchy Process. Communications of the ACM 48 2 (2005) 79-83
    • (2005) Communications of the ACM , vol.48 , Issue.2 , pp. 79-83
    • Bodin, L.D.1    Gordon, L.A.2    Loeb, M.P.3
  • 4
    • 0001138724 scopus 로고
    • Optimal investment policies for a firm with a random risk process: Exponential utility and minimizing the probability of ruin
    • Browne S. Optimal investment policies for a firm with a random risk process: Exponential utility and minimizing the probability of ruin. Mathematics of Operations Research 20 4 (1995) 937-958
    • (1995) Mathematics of Operations Research , vol.20 , Issue.4 , pp. 937-958
    • Browne, S.1
  • 5
    • 34147189365 scopus 로고    scopus 로고
    • Economics of IT security management
    • Camp L.J., and Lewis S. (Eds), Kluwer Academic Publishers, Boston, MA
    • Cavusoglu H. Economics of IT security management. In: Camp L.J., and Lewis S. (Eds). Economics of Information Security (2004), Kluwer Academic Publishers, Boston, MA 71-83
    • (2004) Economics of Information Security , pp. 71-83
    • Cavusoglu, H.1
  • 6
    • 34548502174 scopus 로고    scopus 로고
    • Configuration of intrusion detection systems: A comparison of decision and game theoretic approaches
    • Cavusoglu H., and Raghunathan S. Configuration of intrusion detection systems: A comparison of decision and game theoretic approaches. INFORMS Journal on Decision Analysis 1 3 (2004) 131-148
    • (2004) INFORMS Journal on Decision Analysis , vol.1 , Issue.3 , pp. 131-148
    • Cavusoglu, H.1    Raghunathan, S.2
  • 8
    • 18944385964 scopus 로고    scopus 로고
    • The value of intrusion detection systems in information technology security architecture
    • Cavusoglu H., Mishra B., and Raghunathan S. The value of intrusion detection systems in information technology security architecture. Information Systems Research 16 1 (2005) 28-46
    • (2005) Information Systems Research , vol.16 , Issue.1 , pp. 28-46
    • Cavusoglu, H.1    Mishra, B.2    Raghunathan, S.3
  • 9
    • 46849116940 scopus 로고    scopus 로고
    • CompTIA, 2007. Information security spending on the rise, CompTIA survey reveals. CompTIA (Computing Technology Industry Association) press release, October 9.
    • CompTIA, 2007. Information security spending on the rise, CompTIA survey reveals. CompTIA (Computing Technology Industry Association) press release, October 9.
  • 10
    • 46849116516 scopus 로고    scopus 로고
    • Cremonini, M., Nizovtsev, D., 2006. Understanding and influencing attackers' decisions: Implications for security investment strategies. In: Presented at the Workshop on the Economics of Information Security, Cambridge, England, 26-28 June.
    • Cremonini, M., Nizovtsev, D., 2006. Understanding and influencing attackers' decisions: Implications for security investment strategies. In: Presented at the Workshop on the Economics of Information Security, Cambridge, England, 26-28 June.
  • 11
    • 0034430485 scopus 로고    scopus 로고
    • Reflections on cyberweapons controls
    • Denning D. Reflections on cyberweapons controls. Computer Security Journal 16 4 (2000) 3-53
    • (2000) Computer Security Journal , vol.16 , Issue.4 , pp. 3-53
    • Denning, D.1
  • 12
    • 0036765493 scopus 로고    scopus 로고
    • Management's role in information security in a cyber economy
    • Dutta A., and Mccrohan K. Management's role in information security in a cyber economy. California Management Review 45 1 (2002) 67-87
    • (2002) California Management Review , vol.45 , Issue.1 , pp. 67-87
    • Dutta, A.1    Mccrohan, K.2
  • 13
    • 84970966074 scopus 로고    scopus 로고
    • Evaluating damages caused by information systems security incidents
    • Camp L.J., and Lewis S. (Eds), Kluwer Academic Publishers, Boston, MA
    • Farahmand F., Navathe S.B., Sharp G.P., and Enslow P.H. Evaluating damages caused by information systems security incidents. In: Camp L.J., and Lewis S. (Eds). Economics of Information Security (2004), Kluwer Academic Publishers, Boston, MA 71-83
    • (2004) Economics of Information Security , pp. 71-83
    • Farahmand, F.1    Navathe, S.B.2    Sharp, G.P.3    Enslow, P.H.4
  • 14
    • 0002747029 scopus 로고
    • Attitudes toward risk and the risk-return paradox: Prospect theory explanations
    • Fiegenbaum A., and Thomas H. Attitudes toward risk and the risk-return paradox: Prospect theory explanations. Academy of Management Journal 32 1 (1988) 85-106
    • (1988) Academy of Management Journal , vol.32 , Issue.1 , pp. 85-106
    • Fiegenbaum, A.1    Thomas, H.2
  • 15
    • 0041464104 scopus 로고
    • Retrospective on the utility theory of von Neumann and Morgenstern
    • Fishburn P.C. Retrospective on the utility theory of von Neumann and Morgenstern. Journal of Risk and Uncertainty 2 (1989) 127-158
    • (1989) Journal of Risk and Uncertainty , vol.2 , pp. 127-158
    • Fishburn, P.C.1
  • 16
    • 0000030684 scopus 로고
    • The expected utility hypothesis and the measurability of utility
    • Friedman M., and Savage L. The expected utility hypothesis and the measurability of utility. Journal of Political Economy 60 (1952) 463-474
    • (1952) Journal of Political Economy , vol.60 , pp. 463-474
    • Friedman, M.1    Savage, L.2
  • 17
    • 3042720722 scopus 로고    scopus 로고
    • Information security: Why the future belongs to the quants
    • Geer D., Soo Hoo K., and Jaquith A. Information security: Why the future belongs to the quants. IEEE Security and Privacy 1 4 (2003) 24-32
    • (2003) IEEE Security and Privacy , vol.1 , Issue.4 , pp. 24-32
    • Geer, D.1    Soo Hoo, K.2    Jaquith, A.3
  • 18
    • 0042186181 scopus 로고    scopus 로고
    • Utility functions: From risk theory to finance
    • Gerber H.U., and Pafumi G. Utility functions: From risk theory to finance. North American Actuarial Journal 2 3 (1998) 74-100
    • (1998) North American Actuarial Journal , vol.2 , Issue.3 , pp. 74-100
    • Gerber, H.U.1    Pafumi, G.2
  • 22
    • 33846138611 scopus 로고    scopus 로고
    • Returns to information security investment: The effect of alternative information security breach functions on optimal investment and sensitivity to vulnerability
    • Hausken K. Returns to information security investment: The effect of alternative information security breach functions on optimal investment and sensitivity to vulnerability. Information Systems Frontier 8 (2006) 338-349
    • (2006) Information Systems Frontier , vol.8 , pp. 338-349
    • Hausken, K.1
  • 23
    • 0000939360 scopus 로고
    • Prospect theory and the risk-return relation: Some Belgian evidence
    • Jegers M. Prospect theory and the risk-return relation: Some Belgian evidence. Academy of Management Journal 34 1 (1991) 215-225
    • (1991) Academy of Management Journal , vol.34 , Issue.1 , pp. 215-225
    • Jegers, M.1
  • 25
    • 46849096364 scopus 로고    scopus 로고
    • Kesan, J.P., Majuca, R.P., Yurcik, W.J., 2004. The economic case for cyberinsurance. Law and Economics Working Paper, University of Illinois College of Law, USA.
    • Kesan, J.P., Majuca, R.P., Yurcik, W.J., 2004. The economic case for cyberinsurance. Law and Economics Working Paper, University of Illinois College of Law, USA.
  • 26
    • 0000133760 scopus 로고
    • Threats to information systems: Today's reality, yesterday's understanding
    • Loch K.D., Carr H.C., and Warketin M.E. Threats to information systems: Today's reality, yesterday's understanding. MIS Quarterly 16 2 (1992) 173-186
    • (1992) MIS Quarterly , vol.16 , Issue.2 , pp. 173-186
    • Loch, K.D.1    Carr, H.C.2    Warketin, M.E.3
  • 27
    • 16644384919 scopus 로고    scopus 로고
    • Incentive-based modeling and inference of attack intent, objectives, and strategies
    • Lu P., Zang W., and Yu M. Incentive-based modeling and inference of attack intent, objectives, and strategies. ACM Transactions on Information and Systems Security 8 1 (2005) 78-118
    • (2005) ACM Transactions on Information and Systems Security , vol.8 , Issue.1 , pp. 78-118
    • Lu, P.1    Zang, W.2    Yu, M.3
  • 28
    • 0037131253 scopus 로고    scopus 로고
    • Optimal portfolio and background risk: An exact and an approximate solution
    • Menoncin F. Optimal portfolio and background risk: An exact and an approximate solution. Insurance Mathematics and Economics 31 2 (2002) 249-265
    • (2002) Insurance Mathematics and Economics , vol.31 , Issue.2 , pp. 249-265
    • Menoncin, F.1
  • 29
    • 24044502721 scopus 로고
    • Information systems management issues for the 1990s
    • Niederman F., Brancheau J.C., and Wetherbe J.C. Information systems management issues for the 1990s. MIS Quarterly 15 4 (1991) 475-502
    • (1991) MIS Quarterly , vol.15 , Issue.4 , pp. 475-502
    • Niederman, F.1    Brancheau, J.C.2    Wetherbe, J.C.3
  • 30
    • 0001579697 scopus 로고
    • Risk aversion in the small and in the large
    • Pratt J.W. Risk aversion in the small and in the large. Econometrica 32 1-2 (1964) 122-136
    • (1964) Econometrica , vol.32 , Issue.1-2 , pp. 122-136
    • Pratt, J.W.1
  • 31
    • 8444250312 scopus 로고    scopus 로고
    • Improving the ROI of the security management process
    • Purser S.A. Improving the ROI of the security management process. Computer and Security 23 (2004) 542-546
    • (2004) Computer and Security , vol.23 , pp. 542-546
    • Purser, S.A.1
  • 32
    • 46849083807 scopus 로고    scopus 로고
    • Schechter, S.E., 2004. Computer security strength and risk: A quantitative approach. Ph.D. Thesis, Harvard University, USA.
    • Schechter, S.E., 2004. Computer security strength and risk: A quantitative approach. Ph.D. Thesis, Harvard University, USA.
  • 33
    • 46849104935 scopus 로고    scopus 로고
    • Soo Hoo, K., 2000. How much is enough? A risk-management approach to computer security. Working Paper, Consortium for Research on Information Security and Policy, Stanford University, USA.
    • Soo Hoo, K., 2000. How much is enough? A risk-management approach to computer security. Working Paper, Consortium for Research on Information Security and Policy, Stanford University, USA.
  • 34
    • 0000670422 scopus 로고
    • Risk aversion and the intertemporal behavior of asset prices
    • Stapleton R.C., and Subrahmanyam M.G. Risk aversion and the intertemporal behavior of asset prices. The Review of Financial Studies 3 4 (1990) 677-693
    • (1990) The Review of Financial Studies , vol.3 , Issue.4 , pp. 677-693
    • Stapleton, R.C.1    Subrahmanyam, M.G.2
  • 35
    • 0000280419 scopus 로고
    • Effective IS security: An empirical study
    • Straub D.W. Effective IS security: An empirical study. Information Systems Research 1 3 (1990) 255-276
    • (1990) Information Systems Research , vol.1 , Issue.3 , pp. 255-276
    • Straub, D.W.1
  • 36
    • 0001133137 scopus 로고    scopus 로고
    • Coping with systems risk: Security planning model for managerial decision making
    • Straube D.W., and Welke R.J. Coping with systems risk: Security planning model for managerial decision making. MIS Quarterly 22 4 (1998) 441-469
    • (1998) MIS Quarterly , vol.22 , Issue.4 , pp. 441-469
    • Straube, D.W.1    Welke, R.J.2
  • 37
    • 46849083157 scopus 로고    scopus 로고
    • Varian, H., 2000. System reliability and free riding. In: Proceedings of the Fifth International Conference on Electronic Commerce, pp. 305-366.
    • Varian, H., 2000. System reliability and free riding. In: Proceedings of the Fifth International Conference on Electronic Commerce, pp. 305-366.
  • 38
    • 4243198165 scopus 로고    scopus 로고
    • Enemy at the gate: Threats to information security
    • Whitman M.E. Enemy at the gate: Threats to information security. Communications of the ACM 46 3 (2003) 91-95
    • (2003) Communications of the ACM , vol.46 , Issue.3 , pp. 91-95
    • Whitman, M.E.1
  • 39
    • 0032350136 scopus 로고    scopus 로고
    • A behavioral agency model of managerial risk taking
    • Wiseman R.M., and Gomez-Mejia L.R. A behavioral agency model of managerial risk taking. Academy of Management Review 23 1 (1998) 133-153
    • (1998) Academy of Management Review , vol.23 , Issue.1 , pp. 133-153
    • Wiseman, R.M.1    Gomez-Mejia, L.R.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.