Valuation of Reputation Damage
for Transport Cyber Attack: Methods and Findings
This paper analyses the issue of reputation damage for transport cyber-attacks. Cyber-security attack has become an increasing focus for much business and government planning. Transport infrastructure networks are of special concern. A challenge in responding is to determine the level and allocation of cyber-security budgets. Extensive public sector involvement means that market measures of net benefit may be insufficient for government decision-makers. For example, government reputation effects will also be regarded as important, and so this paper uses focus group methods to demonstrate how project evaluation can incorporate public reputation damage measures. So called "contingent valuation" methodology is applied for this purpose in the paper, generating illustrative "willingness to pay" estimates for public reputation.