Cyber Crime: Security Under Scarce Resources

American Foreign Policy Council Defense Technology Program Brief, No. 11, June 2015

10 Pages Posted: 27 Jun 2015

See all articles by Trey Herr

Trey Herr

Hoover Institution at Stanford University

Sasha Romanosky

RAND Corporation; Carnegie Mellon University - Heinz College of Information Systems and Public Policy

Date Written: June 24, 2015

Abstract

Cyber crime covers a wide range of activities that includes theft, fraud and harassment; stealing valuable intellectual property as part of industrial espionage; committing financial fraud and credit card theft; and disrupting internet services for ideological goals (“hacktivism”). The crimes target both firms and consumers, and while they rarely result in physical harm or property damage, there can still be severe consequences. This paper frames the topic as a discussion of two markets: one of information security, occupied by victims (e.g., firms and consumers), and one of threats, where buyers and sellers of malicious software and stolen information trade their goods.

Keywords: cyber crime, crime, economics of information security, malware, cyber insurance

Suggested Citation

Herr, Trey and Romanosky, Sasha, Cyber Crime: Security Under Scarce Resources (June 24, 2015). American Foreign Policy Council Defense Technology Program Brief, No. 11, June 2015 . Available at SSRN: https://ssrn.com/abstract=2622683

Trey Herr (Contact Author)

Hoover Institution at Stanford University ( email )

Stanford, CA 94305-6010
United States

HOME PAGE: http://https://www.hoover.org/profiles/trey-herr

Sasha Romanosky

RAND Corporation ( email )

1776 Main Street
P.O. Box 2138
Santa Monica, CA 90407-2138
United States

Carnegie Mellon University - Heinz College of Information Systems and Public Policy ( email )

Pittsburgh, PA 15213-3890
United States

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