{"id":170283,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/itm-517-module-4-case-3"},"modified":"2017-08-18T05:51:04","modified_gmt":"2017-08-18T05:51:04","slug":"itm-517-module-4-case-3","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/itm-517-module-4-case-3\/","title":{"rendered":"ITM 517 Module 4 Case"},"content":{"rendered":"

Module 4 – Case<\/b><\/p>\n

SECURITY VIA TECHNOLOGY<\/b><\/p>\n

Case Assignment<\/b><\/p>\n

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  1. Revisit Bruce Schneier’s presentation in Module 2.<\/b> This time, please focus on his discussions on cost\/benefit analysis.<\/li>\n<\/ol>\n

    Schneier, B. (2008). What are the implications of spying? CCTV interview with Bruce Schneier. Retrieved from https:\/\/www.youtube.com\/watch?v=Ar67N94NYr0<\/a><\/p>\n

    If you don’t have access to the presentation, then simply read his article mentioned in Module 2. The article is:<\/p>\n

    Schneier, Bruce. The Psychology of Security. http:\/\/www.schneier.com\/essay-155.html<\/a><\/p>\n

    The following article provides an example how such a cost\/benefit analysis is considered.<\/p>\n

    Schneier, Bruce. Security at What Cost? National ID System Is Not Worth The $23 Billion Price Tag. http:\/\/www.schneier.com\/essay-207.html<\/a>.<\/p>\n

    The following article uses some typical accounting measurements for economics of information security.<\/p>\n

    Gordon, L. A., & Richardson, R. (2004). The New Economics of Information Security. Optimize. April, 83\u201386. (Trident Online Library: ProQuest)<\/p>\n

    The following article recaps what we talked about perceptions of security. More importantly, it discusses how people generally do not perceive gains and costs equally. When you conduct a cost\/benefit analysis of security, you should keep that in mind.<\/p>\n

    West, R. (2008). The psychology of security. Communications of the ACM, Apr,  51(4), 34\u201340.<\/p>\n

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    1. Incentive Design<\/b><\/li>\n<\/ol>\n

      The economics of information security is not only about cost\/benefit analysis of implementing a security measure. Another major topic in economics is mechanism design, which provides principles and methods (like game theory) to help design incentive-compatible mechanisms that ensure participants are better off behaving honestly than dishonestly. See the following article to get a peek:<\/p>\n

      The Economist. (2007) Intelligent Design. Oct 18th, 2007. http:\/\/www.economist.com\/finance\/displaystory.cfm?story_id=9988840<\/a><\/p>\n

      To know more about the three Nobel Prize winners in 2007 economics division, surf http:\/\/nobelprize.org\/nobel_prizes\/economics\/laureates\/2007\/<\/a> and check them out.<\/p>\n

      It is not easy to understand the revelation principle or the incentive-compatible design. I introduce you the concepts here for the purpose of making you aware of such a method. It takes time to learn how to design a game (a mechanism) that every party is better off by being honest.<\/p>\n

      Well, on a lighter note. Interestingly, a movie called “Mad Money” tells a story of three female employees of the Federal Reserve Bank stealing money that is about to be shredded. It is not a movie that I recommend to watch a second time, but it is entertaining enough to watch once. The movie is also a fit for the educational purpose here. I suggest you watch it once when you get a chance during this term, and pay special attention to the human factors — especially the incentives of the thieves and the Chief Security Officer.<\/p>\n

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      1. Other Economics Issues as to Security<\/b><\/li>\n<\/ol>\n

        As a matter of fact, there are many aspects in applying economics to information security. The following article has mentioned a list of authors that research economics of information security and provided a brief overview of their research:<\/p>\n

        Anderson R. and Schneier B., (2005) Economics of Information Security<\/a>, IEEE Security and Privacy 3 (1), 2005, pp. 12-13. (Retrieved May 19, 2008).<\/p>\n

        To know more in depth, you can choose to view the video (optional):<\/p>\n

        Simonyi Konferencia 2011 – Economics of Information Security and Privacy. Retrieved from http:\/\/www.youtube.com\/watch?v=fSfH80DY6S4<\/a><\/p>\n

        You are probably overwhelmed now with all these economics. I hope you also have broadened your views on security and have said “wow” to yourself that now you hold a much broader view on security and how to approach it from economic perspective.<\/p>\n

        Please write a 4- to 6-page paper discussing what you have learned:<\/p>\n

        What are the economic considerations of information security and its management?<\/b><\/p>\n

        In preparing your paper, you need to discuss the following issues, and support with arguments and evidence:<\/p>\n