An economic analysis of ransomware and its welfare consequences
| dc.cclicence | CC-BY | en |
| dc.contributor.author | Cartwright, Anna | |
| dc.contributor.author | Hernandez-Castro, Julio | |
| dc.contributor.author | Cartwright, Edward | |
| dc.date.acceptance | 2020-01-27 | |
| dc.date.accessioned | 2020-03-10T09:29:35Z | |
| dc.date.available | 2020-03-10T09:29:35Z | |
| dc.date.issued | 2020-03-04 | |
| dc.description | open access article | en |
| dc.description.abstract | We present in this work an economic analysis of ransomware, a relatively new form of cyber-enabled extortion. We look at how the illegal gains of the criminals will depend on the strategies they use, examining uniform pricing and price discrimination. We also explore the welfare costs to society of such strategies. In addition, we present the results of a pilot survey which demonstrate proof of concept in evaluating the costs of ransomware attacks. We discuss at each stage whether the different strategies we analyse have been encountered already in existing malware, and the likelihood of them being implemented in the future. We hope this work will provide some useful insights for predicting how ransomware may evolve in the future. | en |
| dc.funder | EPSRC (Engineering and Physical Sciences Research Council) | en |
| dc.identifier.citation | Hernandez-Castro J., Cartwright A. and Cartwright E. (2020) An economic analysis of ransomware and its welfare consequences. Royal Society Open Science.7 (3) | en |
| dc.identifier.doi | https://doi.org/10.1098/rsos.190023 | |
| dc.identifier.uri | https://dora.dmu.ac.uk/handle/2086/19339 | |
| dc.language.iso | en | en |
| dc.peerreviewed | Yes | en |
| dc.projectid | EP/P011772/1 | en |
| dc.publisher | The Royal Society | en |
| dc.researchinstitute | Institute for Applied Economics and Social Value (IAESV) | en |
| dc.subject | ransomware | en |
| dc.subject | willingness to pay | en |
| dc.subject | economics | en |
| dc.title | An economic analysis of ransomware and its welfare consequences | en |
| dc.type | Article | en |