Thomas, K., Huang, D.Y., Wang, D., Bursztein, E., Grier, C., Holt, T.J., et al. (2015) Framing Dependencies Introduced by Underground Commoditization. Workshop on the Economics of Information Security (WEIS), Delft, 22-23 June 2015.

has been cited by the following article:

• TITLE: The “Iterated Weakest Link” Model of Adaptive Security Investment

  AUTHORS: Rainer Böhme, Tyler Moore

  KEYWORDS: Optimal Security Investment under Uncertainty, Return on Security Investment

  JOURNAL NAME: Journal of Information Security, Vol.7 No.2, March 31, 2016

  ABSTRACT: We devise a model for security investment that reflects dynamic interaction between a defender, who faces uncertainty, and an attacker, who repeatedly targets the weakest link. Using the model, we derive and compare optimal security investment over multiple periods, exploring the delicate balance between proactive and reactive security investment. We show how the best strategy depends on the defender’s knowledge about prospective attacks and the recoverability of costs when upgrading defenses reactively. Our model explains why security under-investment is sometimes rational even when effective defenses are available and can be deployed independently of other parties’ choices. Finally, we connect the model to real-world security problems by examining two case studies where empirical data are available: computers compromised for use in online crime and payment card security.