A review of game theory approach to cyber security risk management

Abstract

Cyber security is among the most complex and rapidly evolving issues and has been the focus of present day organizations. Cyber security risk management is the process of managing or reducing potentially harmful and uncertain events that posse as threats to cyber security. It involves looking at what could go wrong on the cyber space and deciding on ways to prevent or minimize their occurrences or effects. One of the prominent cyber security risk management techniques is the Game Theoretic Approach (GTA), which focuses on the use of resources, internal controls, information sharing, technical improvements, behavioral or organizational scale-ups and cyber insurance for cyber risk management. This paper presents a review of game theoretic-based model for cyber security risk management. Specifically, issues on modeling, some related works and significance of game theoretic approach to cyber security risk management are presented. Findings from the review revealed the peculiarities and specificity of each model. It is also revealed that the models are just evolving and require much improvement.

Keywords: Cyber Security, Risk Management, Game Theory, Model