Related papers: Modeling and Pricing Cyber Insurance -- Idiosyncra…
Firms in inter-organizational networks such as supply chains or strategic alliances are exposed to interdependent risks. These are risks that are transferable across partner firms. They can be decomposed into intrinsic risks a firm faces…
Despite the promising potential of network risk management services (e.g., cyber-insurance) to improve information security, their deployment is relatively scarce, primarily due to such service companies being unable to guarantee…
The role of mathematics in a complex system such as the Internet has yet to be deeply explored. In this paper, we summarize some of the important and pressing problems in cyber security from the viewpoint of open science environments. We…
When undertaking cyber security risk assessments, we must assign numeric values to metrics to compute the final expected loss that represents the risk that an organization is exposed to due to cyber threats. Even if risk assessment is…
We provide an overview of the relationship between financial networks and systemic risk. We present a taxonomy of different types of systemic risk, differentiating between direct externalities between financial organizations (e.g.,…
In recent years, researchers have proposed \emph{cyber-insurance} as a suitable risk-management technique for enhancing security in Internet-like distributed systems. However, amongst other factors, information asymmetry between the insurer…
Research capacity is critical in understanding systemic risk and informing new regulation. Banking regulation has not kept pace with all the complexities of financial innovation. The academic literature on systemic risk is rapidly…
We survey systemic risks to financial markets and present a high-level description of an algorithm that measures systemic risk in terms of coupled networks.
Modeling cyber risks has been an important but challenging task in the domain of cyber security. It is mainly because of the high dimensionality and heavy tails of risk patterns. Those obstacles have hindered the development of statistical…
Based on classical contagion models we introduce an artificial cyber lab: the digital twin of a complex cyber system in which possible cyber resilience measures may be implemented and tested. Using the lab, in numerical case studies, we…
Cybersecurity dynamics is a mathematical approach to modeling and analyzing cyber attack-defense interactions in networks. In this paper, we advance the state-of-the-art in characterizing one kind of cybersecurity dynamics, known as…
Pricing decisions stand out as one of the most critical tasks a company faces, particularly in today's digital economy. As with other business decision-making problems, pricing unfolds in a highly competitive and uncertain environment.…
Context: To effectively defend against ever-evolving cybersecurity threats, software systems should be made as secure as possible. To achieve this, software developers should understand potential vulnerabilities and apply secure coding…
Internet users such as individuals and organizations are subject to different types of epidemic risks such as worms, viruses, and botnets. To reduce the probability of risk, an Internet user generally invests in self-defense mechanisms like…
The rapid diffusion of agentic AI has created a new coverage problem for commercial insurance: some AI-mediated losses are now affirmatively insured, some create silent-AI exposure under legacy cyber, technology errors-and-omissions (E&O),…
The frequent occurrence of natural disasters has posed significant challenges to society, necessitating the urgent development of effective risk management strategies. From the early informal community-based risk sharing mechanisms to…
As new technologies such as the Internet of Things (IoT) are integrated into Critical National Infrastructures (CNI), new cybersecurity threats emerge that require specific security solutions. Approaches used for analysis include the…
As more business activities are being automated and an increasing number of computers are being used to store vital and sensitive information the need for secure computer systems becomes more apparent. These systems can be achieved only…
In the wake of the arrival of digital media, the Internet, the web, and online social media, a flood of new cyber security research questions have emerged. There is a lot of money being lost around the world because of cyber-attacks. As a…
Uncertainties in renewable energy resources (RES) and load variations can lead to elevated system operational costs. Moreover, the emergence of large-scale distributed threats, such as load-altering attacks (LAAs), can induce substantial…