Related papers: Escaping the Subprime Trap in Algorithmic Lending
The use of large language models (LLMs) in hiring promises to streamline candidate screening, but it also raises serious concerns regarding accuracy and algorithmic bias where sufficient safeguards are not in place. In this work, we…
Semi-supervised learning (SSL) has demonstrated its potential to improve the model accuracy for a variety of learning tasks when the high-quality supervised data is severely limited. Although it is often established that the average…
Algorithmic systems are known to impact marginalized groups severely, and more so, if all sources of bias are not considered. While work in algorithmic fairness to-date has primarily focused on addressing discrimination due to individually…
Classification with abstention has gained a lot of attention in recent years as it allows to incorporate human decision-makers in the process. Yet, abstention can potentially amplify disparities and lead to discriminatory predictions. The…
Fair top-$k$ selection, which ensures appropriate proportional representation of members from minority or historically disadvantaged groups among the top-$k$ selected candidates, has drawn significant attention. We study the problem of…
We study an online classification problem with partial feedback in which individuals arrive one at a time from a fixed but unknown distribution, and must be classified as positive or negative. Our algorithm only observes the true label of…
Mitigating the disparate impact of statistical machine learning methods is crucial for ensuring fairness. While extensive research aims to reduce disparity, the effect of using a \emph{finite dataset} -- as opposed to the entire population…
In bankruptcy prediction, the proportion of events is very low, which is often oversampled to eliminate this bias. In this paper, we study the influence of the event rate on discrimination abilities of bankruptcy prediction models. First…
Algorithmic systems now set prices across auto insurance, credit, and lending markets, and regulators increasingly require firms to demonstrate that these systems do not discriminate against protected groups. The standard audit regresses…
Inspired by recent ideas on how the analysis of complex financial risks can benefit from analogies with independent research areas, we propose an unorthodox framework for mapping microfinance credit risk---a major obstacle to the…
Machine learning models (e.g., speech recognizers) are usually trained to minimize average loss, which results in representation disparity---minority groups (e.g., non-native speakers) contribute less to the training objective and thus tend…
There has been rapidly growing interest in the use of algorithms in hiring, especially as a means to address or mitigate bias. Yet, to date, little is known about how these methods are used in practice. How are algorithmic assessments…
Algorithmic bias mitigation has been one of the most difficult conundrums for the data science community and Machine Learning (ML) experts. Over several years, there have appeared enormous efforts in the field of fairness in ML. Despite the…
In selection processes such as hiring, promotion, and college admissions, implicit bias toward socially-salient attributes such as race, gender, or sexual orientation of candidates is known to produce persistent inequality and reduce…
The astonishing successes of ML have raised growing concern for the fairness of modern methods when deployed in real world settings. However, studies on fairness have mostly focused on supervised ML, while unsupervised outlier detection…
The use of machine learning systems in processing job applications has made the process agile and efficient, but at the same time it has created problems in terms of equality, reliability and transparency. In this paper we explain some of…
A key value proposition of machine learning is generalizability: the same methods and model architecture should be able to work across different domains and different contexts. While powerful, this generalization can sometimes go too far,…
Algorithmic discrimination is a condition that arises when data-driven software unfairly treats users based on attributes like ethnicity, race, gender, sexual orientation, religion, age, disability, or other personal characteristics.…
The benefits of overparameterization for the overall performance of modern machine learning (ML) models are well known. However, the effect of overparameterization at a more granular level of data subgroups is less understood. Recent…
Selective classification, in which models can abstain on uncertain predictions, is a natural approach to improving accuracy in settings where errors are costly but abstentions are manageable. In this paper, we find that while selective…