The purpose of this study is to use privacy calculus theory to consider the influence of technological and social factors on the trade-off between perceived privacy risks and perceived benefits in the context of IoT adoption. We develop a research model that considers protocol interoperability, scalability, and sensor dynamic capability as technological factors, and self-industry and government privacy regulation, as social factors. Our research will shed light on the role of both technological and social factors on privacy calculus in relation to IoT devices.