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Who should pay for interdependent risk? Policy implications for security interdependence among airports

Williams, J.M.; Kuper, G.; Massacci, F.

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Authors

G. Kuper

F. Massacci



Abstract

We study interdependent risks in security, and shed light on the economic and policy implications of increasing security interdependence in presence of reactive attackers. We investigate the impact of potential public policy arrangements on the security of a group of interdependent organizations, namely, airports. Focusing on security expenditures and costs to society, as assessed by a social planner, to individual airports and to attackers, we first develop a game‐theoretic framework, and derive explicit Nash equilibrium and socially optimal solutions in the airports network. We then conduct numerical experiments mirroring real‐world cyber scenarios, to assess how a change in interdependence impact the airports' security expenditures, the overall expected costs to society, and the fairness of security financing. Our study provides insights on the economic and policy implications for the United States, Europe, and Asia.

Citation

Williams, J., Kuper, G., & Massacci, F. (2020). Who should pay for interdependent risk? Policy implications for security interdependence among airports. Risk Analysis, 40(5), 1001-1019. https://doi.org/10.1111/risa.13454

Journal Article Type Article
Acceptance Date Dec 17, 2019
Online Publication Date Feb 22, 2020
Publication Date May 31, 2020
Deposit Date Dec 19, 2019
Publicly Available Date Feb 25, 2020
Journal Risk Analysis
Print ISSN 0272-4332
Electronic ISSN 1539-6924
Publisher Wiley
Peer Reviewed Peer Reviewed
Volume 40
Issue 5
Pages 1001-1019
DOI https://doi.org/10.1111/risa.13454
Public URL https://durham-repository.worktribe.com/output/1280575

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Publisher Licence URL
http://creativecommons.org/licenses/by/4.0/

Copyright Statement
Advance online version © 2020 The Authors. Risk Analysis published by Wiley Periodicals, Inc. on behalf of Society for Risk Analysis.
This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.






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