From an economics standpoint, I see elements of both supply and demand theory as well as rational choice theory. In terms of supply and demand, there is a discussion of how customer data was one of the “assets” stolen in the breach. This shows how data has become a commodity with supply and demand in today’s digital world. I also see rational choice theory in play, as the letter explains the calculations hackers make to determine if attacking a specific database is “worth it” based on what types of data could be monetized.
In terms of social sciences, I notice similarities between labeling theory and diffusion of innovations theory. With labeling theory, there is a discussion of how this breach may impact customers’ perceptions of the company and their trust going forward. Being “labeled” as a victim of a data breach could influence future behaviors. The letter also talks about notifying state regulators and offering identity protection services, reflecting the idea of diffusion of innovations that new ideas\/practices spread through certain channels over time.
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From an economics standpoint, I see elements of both supply and demand theory as well as rational choice theory. In terms of supply and demand, there is a discussion of how customer data was one of the “assets” stolen in the breach. This shows how data has become a commodity with supply and demand in… <\/p>\n