Journal 12

The first economic theory is Diminution of value of personal information. What this theory is all about is comparing the value of personal data that was taken, to what it would be worth were it not taken. Essentially, this theory states that data that has been leaked, breached, or in some other way compromised is less valuable than the data that was not. The second economic theory is Market-Based valuation of privacy. This theory compares data that was exposed to other instances that data of similar nature was exposed and sold. The first social science theory is Rational choice. This theory says that the perpetrator of the breach weighed the pros and cons of doing the attack and thought that the risks were not as great as the reward. The second theory is Routine activities. This theory says that three factors ultimately lead to a data breach, a motivated offender, a suitable target, and the lack of a capable guardian.