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Authors: Pankaj Pandey and Einar Arthur Snekkenes

Affiliation: Gjøvik University College, Norway

ISBN: 978-989-758-117-5

Keyword(s): Information Security, Security Economics, Security Risk Management, Prediction Market.

Related Ontology Subjects/Areas/Topics: Data and Application Security and Privacy ; Information and Systems Security ; Information Assurance ; Management of Computing Security ; Risk Assessment ; Security Management

Abstract: Prediction Markets are the markets designed and operated to mine and aggregate the information scattered among the traders. Recently, some researchers have started exploring the application of prediction markets in the information security domain. The information security prediction market will facilitate trading of contracts to hedge the financial impact of the risks associated with the underlying information security events, such as discovery of a vulnerability in a piece of software. However, prediction markets differ in their objectives and requirements, and therefore information security prediction markets need to be carefully engineered to meet the specific requirements. The contribution of this paper is the identification of a set of design requirements for an information security prediction market, and associated performance criteria. We present five categories of design requirements: Contracts, Trading Process, Participants and Incentives, Clearing House, and Market Managemen t for the information security prediction market. Furthermore, we present six performance measures: Information Elicitation, Transparency, Efficiency, Transaction Cost, Liquidity, and Manipulation Resistance for the performance assessment of information security prediction market. (More)

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Paper citation in several formats:
Pandey, P. and Arthur Snekkenes, E. (2015). Design and Performance Aspects of Information Security Prediction Markets for Risk Management.In Proceedings of the 12th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2015) ISBN 978-989-758-117-5, pages 273-284. DOI: 10.5220/0005547502730284

@conference{secrypt15,
author={Pankaj Pandey. and Einar Arthur Snekkenes.},
title={Design and Performance Aspects of Information Security Prediction Markets for Risk Management},
booktitle={Proceedings of the 12th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2015)},
year={2015},
pages={273-284},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005547502730284},
isbn={978-989-758-117-5},
}

TY - CONF

JO - Proceedings of the 12th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2015)
TI - Design and Performance Aspects of Information Security Prediction Markets for Risk Management
SN - 978-989-758-117-5
AU - Pandey, P.
AU - Arthur Snekkenes, E.
PY - 2015
SP - 273
EP - 284
DO - 10.5220/0005547502730284

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