Olha Kuzmenko

Department of Economic Cybernetics, 

Sumy State University, Ukraine

o.kuzmenko@biem.sumdu.edu.ua 

ORCID 0000-0001-8520-2266

Modeling of "information bubbles" in the global information space

Agnieszka Cyburt

Pope John Paul II State School of Higher Education in Biała Podlaska, Poland

a.cyburt@dydaktyka.pswbp.pl 

ORCID 0000-0002-7084-6066

Hanna Yarovenko

Department of Economic Cybernetics, 

Sumy State University, Ukraine

h.yarovenko@biem.sumdu.edu.ua 

ORCID 0000-0002-8760-6835

Valeryia Yersh

Faculty of Economics and Management, Lazarski University, Warsaw, Poland

valeryia.yersh@gmail.com 

ORCID: 0000-0002-5794-4198

Yuliia Humenna

Department of Financial Technologies and Entrepreneurship, 

Sumy State University, Ukraine

y.gumenna@finance.sumdu.edu.ua 

ORCID 0000-0001-5309-6016 

Abstract. The article uses the Sedov-Taylor function to model "information bubbles" formed in the global information space due to information attacks. The authors identify the most relevant determinants that describe information activities related to cyber threats and reactions of economic agents in the global digital economic space. The article hypothesizes about the emergence of "information bubbles" due to increases in information activities and their rupture due to information intrusion, leading to appropriate reactions of economic agents and their subsequent stabilization over time. The empirical data from global web statistics indicates, that four large-scale information overloads were caused by cyberattacks during the study period, which led to the rupture of "information bubbles". Application of autocorrelation functions allows us to determine that the period during which misinformation spreads is, on average, seven days. Solution of the Sedov-Taylor optimization problem and calculations of differential equations, as well as their derivatives, suggest several indicators. Namely, a breakpoint of the second kind, corresponds to the rupture of the "information bubble" with a subsequent adaptation of the system; the inflection point of the function identifies the levels of information activities related to cyber threats, which will change the consequences of the "information bubble" rupture; the minimum possible level of the reactions of economic agents in the global digital economic space.

Received: February, 2021

1st Revision: October, 2021

Accepted: December, 2021

DOI: 10.14254/2071-8330.2021/14-4/18

JEL Classification: C02, C22, H56

Keywords: cyber threat, digital economy, information activity, information bubble, information injection, information security, information space