Abstract for: Timeframe for investing in cyber security does matter: A brand value argument
The majority of published studies on the economics of cyber security literature focus heavily on the development of optimal investment strategies in cyber security from a cost / benefit perspective. The focus on investment strategies from this perspective neglects the amplification from potential behavioral response by consumers to a cyber security incident. This conference paper explores the effects of brand value and consumer confidence in the context of cyber security policy implementation. We find that if brand value and consumer confidence theories are applied to a model of cyber security costs and investments, a single or a series of serious cyber security lapse(s) could lead to business failure.