Fair Or Unbiased Algorithmic Decision Making A Review Of The Literature On Digital Economics
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Author | : Grazia Cecere |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : |
Download Fair Or Unbiased Algorithmic Decision-Making? A Review of the Literature on Digital Economics Book in PDF, Epub and Kindle
Artificial intelligence (AI) technologies are being used increasingly to automate tasks and decision-making processes, and to predict user behavior. Although AI has been implemented and studied in depth in the computer science, economics and management fields research on AI is relatively new. As digitization lowers the costs of hosting and collecting data, AI and algorithms are becoming more frequent in several sectors and particularly digital environments. While AI has been designed to improve and accelerate information processing, there are serious concerns that algorithmic decision-making could result in unexpected correlations and unintentional biases. This calls for a better understanding of how algorithms can be used and the potential positive and negative outcomes identified in the literature. We review the empirical and theoretical literature highlighting the most critical issues inherent in algorithmic decision-making in the digital economy. We identify the expected and unexpected effects of the use of algorithms, and their application in different sectors. We also discuss the trade-off between fairness and unbiased algorithmic decision-making and provide some practical implications and directions for future research.
Author | : Songül Tolan |
Publisher | : |
Total Pages | : |
Release | : 2018 |
Genre | : |
ISBN | : |
Download Fair and Unbiased Algorithmic Decision Making Book in PDF, Epub and Kindle
Machine learning algorithms are now frequently used in sensitive contexts that substantially affect the course of human lives, such as credit lending or criminal justice. This is driven by the idea that 'objective' machines base their decisions solely on facts and remain unaffected by human cognitive biases, discriminatory tendencies or emotions. Yet, there is overwhelming evidence showing that algorithms can inherit or even perpetuate human biases in their decision making when they are based on data that contains biased human decisions. This has led to a call for fairness-aware machine learning. However, fairness is a complex concept which is also reflected in the attempts to formalize fairness for algorithmic decision making. Statistical formalizations of fairness lead to a long list of criteria that are each flawed (or harmful even) in different contexts. Moreover, inherent tradeoffs in these criteria make it impossible to unify them in one general framework. Thus, fairness constraints in algorithms have to be specific to the domains to which the algorithms are applied. In the future, research in algorithmic decision making systems should be aware of data and developer biases and add a focus on transparency to facilitate regular fairness audits.
Author | : Andres Iglesias |
Publisher | : Springer Nature |
Total Pages | : 524 |
Release | : |
Genre | : |
ISBN | : 9819983495 |
Download Proceedings of World Conference on Information Systems for Business Management Book in PDF, Epub and Kindle
Author | : Woodrow Barfield |
Publisher | : Cambridge University Press |
Total Pages | : 1327 |
Release | : 2020-11-05 |
Genre | : Law |
ISBN | : 1108663184 |
Download The Cambridge Handbook of the Law of Algorithms Book in PDF, Epub and Kindle
Algorithms are a fundamental building block of artificial intelligence - and, increasingly, society - but our legal institutions have largely failed to recognize or respond to this reality. The Cambridge Handbook of the Law of Algorithms, which features contributions from US, EU, and Asian legal scholars, discusses the specific challenges algorithms pose not only to current law, but also - as algorithms replace people as decision makers - to the foundations of society itself. The work includes wide coverage of the law as it relates to algorithms, with chapters analyzing how human biases have crept into algorithmic decision-making about who receives housing or credit, the length of sentences for defendants convicted of crimes, and many other decisions that impact constitutionally protected groups. Other issues covered in the work include the impact of algorithms on the law of free speech, intellectual property, and commercial and human rights law.
Author | : Osonde A. Osoba |
Publisher | : |
Total Pages | : 100 |
Release | : 2019 |
Genre | : Business & Economics |
ISBN | : 9781977403131 |
Download Algorithmic Equity Book in PDF, Epub and Kindle
This report is an examination of pathologies in social institutions' use of algorithmic decisionmaking processes. The primary focus is understanding how to evaluate the equitable use of algorithms across a range of specific applications.
Author | : Ajay Agrawal |
Publisher | : University of Chicago Press |
Total Pages | : 172 |
Release | : 2024-03-05 |
Genre | : Business & Economics |
ISBN | : 0226833127 |
Download The Economics of Artificial Intelligence Book in PDF, Epub and Kindle
A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
Author | : Mykel J. Kochenderfer |
Publisher | : MIT Press |
Total Pages | : 701 |
Release | : 2022-08-16 |
Genre | : Computers |
ISBN | : 0262047012 |
Download Algorithms for Decision Making Book in PDF, Epub and Kindle
A broad introduction to algorithms for decision making under uncertainty, introducing the underlying mathematical problem formulations and the algorithms for solving them. Automated decision-making systems or decision-support systems—used in applications that range from aircraft collision avoidance to breast cancer screening—must be designed to account for various sources of uncertainty while carefully balancing multiple objectives. This textbook provides a broad introduction to algorithms for decision making under uncertainty, covering the underlying mathematical problem formulations and the algorithms for solving them. The book first addresses the problem of reasoning about uncertainty and objectives in simple decisions at a single point in time, and then turns to sequential decision problems in stochastic environments where the outcomes of our actions are uncertain. It goes on to address model uncertainty, when we do not start with a known model and must learn how to act through interaction with the environment; state uncertainty, in which we do not know the current state of the environment due to imperfect perceptual information; and decision contexts involving multiple agents. The book focuses primarily on planning and reinforcement learning, although some of the techniques presented draw on elements of supervised learning and optimization. Algorithms are implemented in the Julia programming language. Figures, examples, and exercises convey the intuition behind the various approaches presented.
Author | : Jan René Judek |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : |
Download Algorithmic Decision-Making, Economic Behavior and Predictability in Financial Markets Book in PDF, Epub and Kindle
Digital transformation is producing a growing number of technological innovations that have an impact on our daily lives. In a variety of areas, economic agents increasingly have the opportunity to interact with algorithms, as shown, for example, by the offering of robo-advisors, and thus also to influence events on financial markets. This thesis aims to examine the behavior of economic agents when interacting with algorithms and their willingness to use them in order to contribute to a better understanding of Algorithm Aversion. Algorithm Aversion describes the negative attitude towards th...
Author | : El Bachir Boukherouaa |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2021-10-22 |
Genre | : Business & Economics |
ISBN | : 1589063953 |
Download Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance Book in PDF, Epub and Kindle
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author | : Bart Custers |
Publisher | : Springer Science & Business Media |
Total Pages | : 370 |
Release | : 2012-08-11 |
Genre | : Technology & Engineering |
ISBN | : 3642304877 |
Download Discrimination and Privacy in the Information Society Book in PDF, Epub and Kindle
Vast amounts of data are nowadays collected, stored and processed, in an effort to assist in making a variety of administrative and governmental decisions. These innovative steps considerably improve the speed, effectiveness and quality of decisions. Analyses are increasingly performed by data mining and profiling technologies that statistically and automatically determine patterns and trends. However, when such practices lead to unwanted or unjustified selections, they may result in unacceptable forms of discrimination. Processing vast amounts of data may lead to situations in which data controllers know many of the characteristics, behaviors and whereabouts of people. In some cases, analysts might know more about individuals than these individuals know about themselves. Judging people by their digital identities sheds a different light on our views of privacy and data protection. This book discusses discrimination and privacy issues related to data mining and profiling practices. It provides technological and regulatory solutions, to problems which arise in these innovative contexts. The book explains that common measures for mitigating privacy and discrimination, such as access controls and anonymity, fail to properly resolve privacy and discrimination concerns. Therefore, new solutions, focusing on technology design, transparency and accountability are called for and set forth.