https://dojmt.gov/wp-content/uploads/Glasswasherparts.com_.pdf
Read the letter above to gain context to this journal entry
One economic theory that relates to this letter is game theory. Game theory involves analyzing strategic interactions between rational decision-makers. In this context, the interaction involves the platform provider, the customers, and the attackers. The delayed notification to customers, as mentioned in the letter, could be viewed as a strategic decision influenced by game theory. The platform provider and law enforcement may have strategically chosen to delay notification to aid the investigation, balancing the need for customer awareness with the need to catch the attackers. A second economic theory would be information asymmetry. Information asymmetry occurs when one party has more or better information than the other. In this case, customers were unaware of the data breach until they received this letter. The delayed discovery of the breach by the platform provider and law enforcement represents a form of information asymmetry. Economic decisions, such as contacting credit or debit card companies for a replacement card, are influenced by the information available to customers. The letter aims to reduce this information gap by providing details about the incident.
A social sciences theory would be social contract theory. Social contract theory explores the implicit agreements within a society. In this context, the relationship between the customers and www.glasswasherparts.com involves a trust-based social contract. The breach violates this trust, and the letter addresses the aftermath by providing information on the incident, actions taken, and recommendations for customers. The letter seeks to reaffirm a sense of social contract by being transparent about the breach and advising customers on steps to protect themselves. A second social sciences theory would be crisis communication theory. Crisis communication theory focuses on how organizations respond to and communicate during crises. The letter follows principles of crisis communication by promptly informing customers, acknowledging the issue, and providing guidance on protective measures. The mention of collaboration with law enforcement and a leading cybersecurity firm is an attempt to restore confidence and demonstrate responsible action. The specified helpline hours indicate an effort to be available to address customer concerns promptly.