by KeAi Communications Co., Ltd.
A study, published in the journal Risk Sciences, explores the influence of optimism bias on decision-making in cyber risk management, and introduces a novel model that integrates utility loss aversion—a previously unexplored factor in this context.
The study finds that decision-makers who have self-protection as their primary reference point tend to underinvest in additional cyber risk management measures, providing support for the optimism bias observed in the cyber-insurance market….
