What are the economic considerations in information security

Assignment Help Management Information Sys
Reference no: EM131411089


Case Assignment

1. Revisit Bruce Schneier's presentation in Module 2. This time, please focus on his discussions on cost/benefit analysis.

Schneier, B. (2008). What are the implications of spying? CCTV interview with Bruce Schneier. Retrieved from https://www.youtube.com/watch?v=Ar67N94NYr0

If you don't have access to the presentation, then simply read his article mentioned in Module 2. The article is:

Schneier, Bruce. The Psychology of Security. http://www.schneier.com/essay-155.html

The following article provides an example how such a cost/benefit analysis is considered.

Schneier, Bruce. Security at What Cost? National ID System Is Not Worth The $23 Billion Price Tag. http://www.schneier.com/essay-207.html.

The following article uses some typical accounting measurements for economics of information security.

Gordon, L. A., & Richardson, R. (2004). The New Economics of Information Security. Optimize. April, 83-86. (Trident Online Library: ProQuest)

The following article recaps what we talked about perceptions of security. More importantly, it discusses how people generally do not perceive gains and costs equally. When you conduct a cost/benefit analysis of security, you should keep that in mind.

West, R. (2008). The psychology of security. Communications of the ACM, Apr, 51(4), 34-40.

2. Incentive Design

The economics of information security is not only about cost/benefit analysis of implementing a security measure. Another major topic in economics is mechanism design, which provides principles and methods (like game theory) to help design incentive-compatible mechanisms that ensure participants are better off behaving honestly than dishonestly. See the following article to get a peek:

The Economist. (2007) Intelligent Design. Oct 18th, 2007. http://www.economist.com/finance/displaystory.cfm?story_id=9988840

To know more about the three Nobel Prize winners in 2007 economics division, surf http://nobelprize.org/nobel_prizes/economics/laureates/2007/ and check them out.

It is not easy to understand the revelation principle or the incentive-compatible design. I introduce you the concepts here for the purpose of making you aware of such a method. It takes time to learn how to design a game (a mechanism) that every party is better off by being honest.

Well, on a lighter note. Interestingly, a movie called "Mad Money" tells a story of three female employees of the Federal Reserve Bank stealing money that is about to be shredded. It is not a movie that I recommend to watch a second time, but it is entertaining enough to watch once. The movie is also a fit for the educational purpose here. I suggest you watch it once when you get a chance during this term, and pay special attention to the human factors -- especially the incentives of the thieves and the Chief Security Officer.

3. Other Economics Issues as to Security

As a matter of fact, there are many aspects in applying economics to information security. The following article has mentioned a list of authors that research economics of information security and provided a brief overview of their research:

Anderson R. and Schneier B., (2005) Economics of Information Security, IEEE Security and Privacy 3 (1), 2005, pp. 12-13. (Retrieved May 19, 2008).

To know more in depth, you can choose to view the video (optional):

Simonyi Konferencia 2011 - Economics of Information Security and Privacy. Retrieved from http://www.youtube.com/watch?v=fSfH80DY6S4
You are probably overwhelmed now with all these economics. I hope you also have broadened your views on security and have said "wow" to yourself that now you hold a much broader view on security and how to approach it from economic perspective.

Please write a 4- to 6-page paper discussing what you have learned:

What are the economic considerations of information security and its management?

In preparing your paper, you need to discuss the following issues, and support with arguments and evidence:

• What are the major economic considerations in information security and management?

• Are these economic considerations serving their purposes?

• Why do these economic measures help?

• Discuss economic mechanisms that can improve information security and management.

• Provide a comparative table of the economic measures that you discussed.

Assignment Expectations

Length: Minimum 4-6 pages excluding cover page and references (since a page is about 300 words, this is approximately 1,200-1,800 words).

Reference no: EM131411089

What happens without contingency planning

Provide two examples on what happens when companies do not properly plan for IT outages. Provide an example in which a company fared well in the outage and one example of a

What is the typical it implementation process

What is the typical IT implementation process? What are the roles and responsibilities involved in system implementation, How did the process described in the case study fail

Explain why is it surprising that money markets exist

Money market environment - Explain Why is it surprising that money markets exist? Why do they exist nonetheless? What factors explain the relative size of money markets in d

Explain history of decision support systems by dj power

Write a 2 to 3 page essay describing how business decision support systems have evolved over the past several decades as computer and data capabilities have grown. A Brief H

Which strategy did you think was more effective and why

Summarize each article and compare and contrast the sourcing approaches in each article.Identify the factors that were important in each sourcing strategy and whether the so

Analyze three economic factors that could lead the cio down

Reflect upon the economic factors that would lead a CIO to consider outsourcing or offshoring critical IT segments (i.e., help desk support, software development, and qualit

Consider a product or service you highly recommend

Consider a product or service you highly recommend. Identify your audience. Perhaps you would like to recommend this product or service to accountants? A job recruiter? Cosm

How increasing the hill coefficient affects response time

Explore through linearization how increasing the Hill coefficient affects the response time of the system. - compare the results of the linearization analysis to the behavior


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd