Examples of Findings in Economics of Security
Proof of work is a security technology designed to stop spam by altering the economics. An early paper in economics of information security argued that proof of work cannot work. In fact, the finding was that proof of work cannot work without price discrimination as illustrated by a later paper, Proof of Work can Work.
Another finding, one that is critical to an understanding of current American data practices, is that the opposite of privacy is not, in economic terms anonymity, but rather price discrimination. Privacy and price discrimination was authored by Andrew Odlyzko and illustrates that what may appear as information pathology in collection of data is in fact rational organizational behavior.
Hal Varian presented three models of security using the metaphor of the height of walls around a town to show security as a normal good, public good, or good with externalities. Free riding is the end result, in any case.
Read more about this topic: Economics Of Security
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