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Full-Text Articles in Economics

Abmscore: A Heuristic Algorithm For Forming Strategic Coalitions In Agent-Based Simulation, Andrew J. Collins, Gayane Grigoryan Jan 2024

Abmscore: A Heuristic Algorithm For Forming Strategic Coalitions In Agent-Based Simulation, Andrew J. Collins, Gayane Grigoryan

Engineering Management & Systems Engineering Faculty Publications

Integrating human behavior into agent-based models has been challenging due to its diversity. An example is strategic coalition formation, which occurs when an individual decides to collaborate with others because it strategically benefits them, thereby increasing the expected utility of the situation. An algorithm called ABMSCORE was developed to help model strategic coalition formation in agent-based models. The ABMSCORE algorithm employs hedonic games from cooperative game theory and has been applied to various situations, including refugee egress and smallholder farming cooperatives. This paper discusses ABMSCORE, including its mechanism, requirements, limitations, and application. To demonstrate the potential of ABMSCORE, a new …


Economics-Based Risk Management Of Distributed Denial Of Service Attacks: A Distance Learning Case Study, Omer Keskin, Unal Tatar, Omer Poyraz, Ariel Pinto, Adrian Gheorghe Jan 2018

Economics-Based Risk Management Of Distributed Denial Of Service Attacks: A Distance Learning Case Study, Omer Keskin, Unal Tatar, Omer Poyraz, Ariel Pinto, Adrian Gheorghe

Engineering Management & Systems Engineering Faculty Publications

Managing risk of cyber systems is still on the top of the agendas of Chief Information Security Officers (CISO). Investment in cybersecurity is continuously rising. Efficiency and effectiveness of cybersecurity investments are under scrutiny by boards of the companies. The primary method of decision making on cybersecurity adopts a risk-informed approach. Qualitative methods bring a notion of risk. However, particularly for strategic level decisions, more quantitative methods that can calculate the risk and impact in monetary values are required. In this study, a model is built to calculate the economic value of business interruption during a Distributed Denial-of-Service (DDoS) attack …