An Economic Alternative to Improve Cybersecurity of E-government and Smart Cities

While the rapid progress in smart city technologies are changing cities and the lifestyle of the people, there are increasingly enormous challenges in terms of the safety and security of smart cities. The potential vulnerabilities of e-government products and imminent attacks on smart city infrastructure and services will have catastrophic consequences on the governments and can cause substantial economic and noneconomic losses, even chaos, to the cities and their residents. This paper aims to explore alternative economic solutions ranging from incentive mechanisms to market-based solutions to motivate smart city product vendors, governments, and vulnerability researchers and finders to improve the cybersecurity of smart cities.