| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17403 |
| DP17403 Cyber security and ransomware in financial markets | |
| Toni Ahnert; David Cimon; Ryan Riordan | |
| 发表日期 | 2022-06-23 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Financial markets are under constant threat of cyber attacks. We develop a principal-agent model of cyber-attacking with fee-paying clients who delegate security decisions to financial platforms. We derive testable implications about cyber attack vulnerability and fees charged. We also characterize the form of cyber attack chosen by attackers. Successful ransomware attacks are more likely than traditional attacks. When security is unobservable, platforms underinvest in security. Welfare can improve by targeting security investment through regulation (e.g. minimum security standards), or by improving transparency (e.g. security ratings). Our results support regulatory efforts to increase transparency around cyber security and cyber attacks. |
| 主题 | Financial Economics |
| URL | https://cepr.org/publications/dp17403 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/546473 |
| 推荐引用方式 GB/T 7714 | Toni Ahnert,David Cimon,Ryan Riordan. DP17403 Cyber security and ransomware in financial markets. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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