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We argue that the predominant privacy protection regimes based on the privacy self-management framework of \u201cnotice and choice\u201d not only fail to protect individual privacy, but also underplay privacy as a collective good. To illustrate this claim, we discuss how two possible individual strategies\u2014withdrawal from the market (avoidance) and complete reliance on market-provided privacy protections (assimilation)\u2014may result in less privacy options available to the society at large. 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