The SAMPLE DATA BREACH NOTIFICATION letter can be explained using two economic theories and two social science theories.

            Economic theories:

1. Rational Choice Theory: The company decided to hire a cybersecurity firm to fix the problem because they wanted to make a smart choice. They knew that fixing the issue quickly would help them avoid bigger problems, like losing customers or getting into legal trouble.
2. Marxian Economic Theory: This theory looks at how the rich and powerful are protected, while regular people, like workers and customers, might suffer. In this case, the company’s leaders are trying to protect their business, but customers and employees who had their data stolen are the ones at risk of identity theft.

Social science theories:

1. Social Exchange Theory: The company is trying to fix the problem and help customers to keep their trust. They want to show that they care about the customers’ safety, so the customers will continue buying from them.
2. Conflict Theory: This theory says that the company’s actions are more focused on making money and keeping its reputation safe than on protecting the personal information of its customers. The company and its customers are in conflict because the company didn’t do enough to protect data in the first place.