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On market concentration and cybersecurity risk

Author

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  • Dan Geer
  • Eric Jardine
  • Eireann Leverett

Abstract

Market concentration affects each component of the cybersecurity risk equation (i.e. threat, vulnerability and impact). As the Internet ecosystem becomes more concentrated across a number of vectors from users and incoming links to economic market share, the locus of cyber risk moves towards these major hubs and the volume of systemic cyber risk increases. Mitigating cyber risk requires better measurement, diversity of systems, software and firms, attention to market concentration in cyber insurance pricing, and the deliberate choice to avoid ubiquitous interconnection in critical systems.

Suggested Citation

  • Dan Geer & Eric Jardine & Eireann Leverett, 2020. "On market concentration and cybersecurity risk," Journal of Cyber Policy, Taylor & Francis Journals, vol. 5(1), pages 9-29, July.
    • Handle: RePEc:taf:rcybxx:v:5:y:2020:i:1:p:9-29
    DOI: 10.1080/23738871.2020.1728355
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    Cited by:

    1. Aleksandrina Aleksandrova & Valentina Ninova & Zhelyo Zhelev, 2023. "A Survey on AI Implementation in Finance, (Cyber) Insurance and Financial Controlling," Risks, MDPI, vol. 11(5), pages 1-16, May.
    2. Alessandro Fedele & Cristian Roner, 2022. "Dangerous games: A literature review on cybersecurity investments," Journal of Economic Surveys, Wiley Blackwell, vol. 36(1), pages 157-187, February.
    3. Ulrik Franke & Amanda Hoxell, 2020. "Observable Cyber Risk on Cournot Oligopoly Data Storage Markets," Risks, MDPI, vol. 8(4), pages 1-15, November.
    4. Eric Jardine, 2020. "The Case against Commercial Antivirus Software: Risk Homeostasis and Information Problems in Cybersecurity," Risk Analysis, John Wiley & Sons, vol. 40(8), pages 1571-1588, August.

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