The presentation links work on meta-model selection, such as that between a multi-attribute utility model and a benefit-cost analysis, with the finer grained development of an economics based model for cyber security investments. The cyber-security model seeks to link a taxonomy of cyber attack types to micro-economic structures and economic damages broadly considered. Both projects are in progress.
Bio: Scott Farrow is a Professor in the Department of Economics at UMBC and the Economics Coordinator for CREATE. Since receiving his Ph.D. in economics from Washington State University in 1983, Dr. Farrow has served as a member of the faculty at Carnegie Mellon University and the Pennsylvania State University, twice in the Executive Office of the President under both Democratic and Republican administrations, in the Governmental Accountability Office (GAO) and the Department of the Interior. He was the founding editor of the Journal of Benefit-Cost Analysis. His research focuses on integration of risk and economics in the development and evaluation of government programs and policies.