Prediction Markets for Cybersecurity

Winds of Future

It is not easy to be a computer in today’s increasingly complex, highly networked, and sometimes hostile infospace. New threats and risks emerge everyday. Hackers discover new ways of getting more and more creative each day. Companies spend a lot of money to secure their computers and networks.

If you are involved in IT management, sooner or later, you will find yourself in a position where you are expected to make a decision (or a recommendation) on the purchase of a cyber security defense system. Ideally, in such cases you should calculate the expected cost savings to decide whether or not the investment is worthwhile. The problem is that to accomplish that task, you will need good historical data on the probabilities of risk events that are relevant for your company. But for information security such historical data is hard to come by. Cyber attacks change everyday and yesterday’s data…

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