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Ransomware and Reputation

Author

Listed:
  • Anna Cartwright

    (School of Economics, Finance and Accounting, University of Coventry, Coventry CV1 5FB, UK)

  • Edward Cartwright

    (Department of Strategic Management and Marketing, De Montfort University, Leicester LE1 9BH, UK)

Abstract

Ransomware is a particular form of cyber-attack in which a victim loses access to either his electronic device or files unless he pays a ransom to criminals. A criminal’s ability to make money from ransomware critically depends on victims believing that the criminal will honour ransom payments. In this paper we explore the extent to which a criminal can build trust through reputation. We demonstrate that there are situations in which it is optimal for the criminal to always return the files and situations in which it is not. We argue that the ability to build reputation will depend on how victims distinguish between different ransomware strands. If ransomware is to survive as a long term revenue source for criminals then they need to find ways of building a good reputation.

Suggested Citation

  • Anna Cartwright & Edward Cartwright, 2019. "Ransomware and Reputation," Games, MDPI, vol. 10(2), pages 1-14, June.
    • Handle: RePEc:gam:jgames:v:10:y:2019:i:2:p:26-:d:238459
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    References listed on IDEAS

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    Cited by:

    1. Anna Cartwright & Edward Cartwright & Jamie MacColl & Gareth Mott & Sarah Turner & James Sullivan & Jason R. C. Nurse, 2023. "How cyber insurance influences the ransomware payment decision: theory and evidence," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 48(2), pages 300-331, April.
    2. Terrence August & Duy Dao & Marius Florin Niculescu, 2022. "Economics of Ransomware: Risk Interdependence and Large-Scale Attacks," Management Science, INFORMS, vol. 68(12), pages 8979-9002, December.

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