{"id":254,"date":"2024-11-24T08:28:26","date_gmt":"2024-11-24T08:28:26","guid":{"rendered":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/?p=254"},"modified":"2024-11-24T08:28:26","modified_gmt":"2024-11-24T08:28:26","slug":"week-12-read-sample-data-breach-notification-and-describe-how-two-different-economics-theories-and-two-different-social-sciences-theories-relate-to-the-letter","status":"publish","type":"post","link":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/2024\/11\/24\/week-12-read-sample-data-breach-notification-and-describe-how-two-different-economics-theories-and-two-different-social-sciences-theories-relate-to-the-letter\/","title":{"rendered":"WEEK 12: Read &#8220;SAMPLE DATA BREACH NOTIFICATION\u201d and describe how two different economics theories and two different social sciences theories relate to the letter."},"content":{"rendered":"\n<p>The data breach can be understood through two economic theories. First, market failure occurred<br>because customers didn\u2019t know their information was at risk. The company delayed informing<br>them, which hurt trust in the market. Second, transaction costs increased because customers now<br>have to spend time and effort checking for fraud, while the company faces costs to repair its<br>reputation and deal with the aftermath.<br>From a social science perspective, social exchange theory explains that customers trusted the<br>company with their personal information, but the breach broke that trust. Institutional theory<br>shows that the company had to follow legal rules, like notifying affected customers and<br>cooperating with law enforcement, to fix the situation and maintain its credibility. Overall, the<br>breach caused extra costs and damaged trust, and the company had to follow the rules to repair<br>its image.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The data breach can be understood through two economic theories. First, market failure occurredbecause customers didn\u2019t know their information was at risk. The company delayed informingthem, which hurt trust in the market. Second, transaction costs increased because customers nowhave to spend time and effort checking for fraud, while the company faces costs to repair itsreputation&#8230; <\/p>\n<div class=\"link-more\"><a href=\"https:\/\/sites.wp.odu.edu\/nietocyse201s\/2024\/11\/24\/week-12-read-sample-data-breach-notification-and-describe-how-two-different-economics-theories-and-two-different-social-sciences-theories-relate-to-the-letter\/\">Read More<\/a><\/div>\n","protected":false},"author":25891,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","wds_primary_category":0},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/posts\/254"}],"collection":[{"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/users\/25891"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/comments?post=254"}],"version-history":[{"count":1,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/posts\/254\/revisions"}],"predecessor-version":[{"id":255,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/posts\/254\/revisions\/255"}],"wp:attachment":[{"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/media?parent=254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/categories?post=254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.wp.odu.edu\/nietocyse201s\/wp-json\/wp\/v2\/tags?post=254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}