Opportunity Cost
Oct 20, 2023
https://josiahdykstra.com/wp-content/uploads/2022/06/HFES2022_OpportunityCostAndActionBias.pdf
from this blog post
- Overlooking opportunity cost – the loss of potential gain from other alternatives when a choice is made – is rife within infosec decision-making across all activities, not just incident response (IR); get hyped for more on this from Josiah and me soon
- One way to start incorporating opportunity cost in practice is by considering the “null baseline”; in the context of incident response, it means considering the option of waiting to act
- Action bias is especially bad for IR because any option may be chosen without regard for its cost or value – and such rushed decisions can lead to suboptimal outcomes