Economics at your fingertips  

Epistemological Equation for Analysing Uncontrollable States in Complex Systems: Quantifying Cyber Risks from the Internet of Things

Petar Radanliev (), David Roure, Pete Burnap and Omar Santos
Additional contact information
David Roure: University of Oxford
Pete Burnap: Cardiff University
Omar Santos: Cisco Research Centre, Research Triangle Park

The Review of Socionetwork Strategies, 2021, vol. 15, issue 2, 381-411

Abstract: Abstract The Internet-of-Things (IoT) triggers data protection questions and new types of cyber risks. Cyber risk regulations for the IoT, however, are still in their infancy. This is concerning, because companies integrating IoT devices and services need to perform a self-assessment of its IoT cyber security posture. At present, there are no self-assessment methods for quantifying IoT cyber risk posture. It is considered that IoT represent a complex system with too many uncontrollable risk states for quantitative risk assessment. To enable quantitative risk assessment of uncontrollable risk states in complex and coupled IoT systems, a new epistemological equation is designed and tested though comparative and empirical analysis. The comparative analysis is conducted on national digital strategies, followed by an empirical analysis of cyber risk assessment approaches. The results from the analysis present the current and a target state for IoT systems, followed by a transformation roadmap, describing how IoT systems can achieve the target state with a new epistemological analysis model. The new epistemological analysis approach enables the assessment of uncontrollable risk states in complex IoT systems—which begin to resemble artificial intelligence—and can be used for a quantitative self-assessment of IoT cyber risk posture.

Keywords: Epistemological analysis; Internet of Things; Risk transformation roadmap; Cyber risk regulations; Empirical analysis; Cyber risk self-assessment; Cyber risk target state (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3) Track citations by RSS feed

Downloads: (external link) Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
https://www.springer ... ystems/journal/12626

DOI: 10.1007/s12626-021-00086-5

Access Statistics for this article

The Review of Socionetwork Strategies is currently edited by Katsutoshi Yada, Yasuharu Ukai and Marshall Van Alstyne

More articles in The Review of Socionetwork Strategies from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

Page updated 2023-03-26
Handle: RePEc:spr:trosos:v:15:y:2021:i:2:d:10.1007_s12626-021-00086-5