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Action, Inaction, Trust and Cybersecurity's Common Property Problem

Lookup NU author(s): Dr Karen Elliott

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Abstract

Inaction is sometimes the optimal path—a point well taken by economists. In her substantial volume on optimal control, economist Nancy Stokey begins: “In situations where action entails a fixed adjustment cost, optimal policies involve doing nothing most of the time and exercising control only occasionally.” When fixed adjustment costs exist, the investment profile over time tends to be characterized by sudden shifts followed by periods of complete inaction; economists often refer to this as a “lumpy” investment profile.


Publication metadata

Author(s): Elliott K, Massacci F, Williams J

Publication type: Article

Publication status: Published

Journal: IEEE Security & Privacy

Year: 2016

Volume: 14

Issue: 1

Pages: 82-86

Print publication date: 01/02/2016

Online publication date: 03/02/2016

Acceptance date: 01/01/2016

Date deposited: 29/03/2016

ISSN (print): 1558-4046

ISSN (electronic): 2375-1207

Publisher: IEEE

URL: http://dx.doi.org/10.1109/MSP.2016.2

DOI: 10.1109/MSP.2016.2


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