The information asymmetry theory and the notion of externality can be traced in the context of the sample data breach notification. The information of asymmetry theory is present in the data breach described in the Glasswaherparts.com letter. Payment card data was compromised in a manner that went unnoticed for a while by customers (economic agents), who did not find out that they had intruded into the platform provider’s systems. The uneven nature of information in various economic interactions demonstrates the difficulty in providing this kind of discrepancy between the provider of a platform and its clients.
The notion of externality can be used in relation to the letter with regard to events beyond that data loss event. This has resulted in the misuse of customer’s personal information, including their payment card numbers culminating to possible negative externalities e.g., fraud and identity theft. However, it must be noted that these effects are not limited to the platform provider and the customers but also involve society at large. In this instance, externalities focus on the wide-ranging economic issues that arise as a result of cybersecurity incidents and the necessity for concerted actions to combat them.
Regarding the socio-scientific side of things, sociological trust theory and psychological coping mechanisms are relevant. The breach will also have a negative impact on the sociological theory of trust since people may lack confidence after realizing they could have been duped by Glasswasherparts.com. It goes without saying that people need trust as a vital aspect to be involved in any economic transaction.
The letter addresses a psychologic dimension of coping mechanisms from the view of psychology. They are instructed to undertake such measures to avert cases of identity theft or fraud, like contacting their card companies (credit or debit) and regularly checking on the updates of their statements. This coincides with the psychological coping theory whereby people employ certain techniques for managing any perceived threats and stressors. This letter appreciates the effect of the leaked information may have on people’s minds and advises them how they could cope with such events.

Example Data Breach Notification Letter
https://dojmt.gov/wp-content/uploads/Glasswasherparts.com_.pdf