Evaluation of cyber security risk pillars for a digital, innovative, and sustainable model utilizing a novel fuzzy hybrid optimization

Abstract

Cyber security, digitization, and information technologies may contribute to sustainable smart cities, digital businesses, and economies. So, in this paper, a digital, innovative, and sustainable business economy model is introduced with cyber security and risk indicators to evaluate the performances of digital economies when developing a novel fuzzy hybrid framework. To the best of our knowledge, the proposed fuzzy hybrid framework is not explored in the literature. The main contributions of this paper are presented as follows. First of all, the eight main criteria and forty-three sub-criteria are specified based on the experts’ notions and published reports. Then, a Fermatean fuzzy sets-based analytical hierarchy process (FFSAHP) is proposed to obtain weights of the main criteria and sub-criteria. Based on FFSAHP results, economics, risks, and innovation & digitization are the top three crucial criteria. Next, a fuzzy slacks-based data envelopment analysis (FSDEA) is introduced to measure the efficiencies of digital economies. Twenty-two out of thirty economies are efficient based on FSDEA results. Further, the FSDEA-embedded TOPSIS (technique for order performance by similarity to ideal solution) technique is developed to rank the efficient digital economies. Denmark, Switzerland, and Luxembourg have the three highest scores from FSDEA-embedded TOPSIS results as efficient digital economies. Finally, comparison studies and managerial and theoretical recommendations are presented for policymakers, including sustainable development goals and cyber security risk management.