There are many answers to the so-called privacy paradox but the simplest is the analogy to the environment. Why do people say they care but then not do much? Because they understand what many experts don't: individual action feels overwhelming and collective action is needed.
For a detailed model of privacy regulation inspired by environmental regulation, see "Regulating Mass Surveillance as Privacy Pollution: Learning from Environmental Impact Statements" by @mfroomkin. https://repository.law.miami.edu/cgi/viewcontent.cgi?article=1062
I call for a study the privacy paradox paradox, which is the tendency of researchers to assert that there is a privacy paradox in spite of all the evidence to the contrary.
Sorry for the broken link to the privacy regulation paper. Here's the correct one: https://repository.law.miami.edu/cgi/viewcontent.cgi?article=1062&context=fac_articles

(Link was broken because I've gotten into the habit of reflexively stripping URL parameters before sharing links to prevent tracking. Usually a good thing to do!)
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