1. Algorithmic Fairness in Mortgage Lending: from Absolute Conditions to Relational Trade-offs
- Author
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Lee, Michelle Seng Ah, Floridi, Luciano, Lee, Michelle Seng Ah [0000-0001-7725-2503], Floridi, Luciano [0000-0002-5444-2280], and Apollo - University of Cambridge Repository
- Subjects
Algorithmic fairness ,Philosophy of mind ,Philosophy of science ,Forcing (recursion theory) ,Computer science ,Fairness trade-offs ,Trade offs ,Representation (systemics) ,Binary number ,5001 Applied Ethics ,02 engineering and technology ,Mortgage discrimination ,Philosophy ,50 Philosophy and Religious Studies ,Absolute (philosophy) ,Artificial Intelligence ,Technology ethics ,020204 information systems ,Machine learning ,Theory of computation ,0202 electrical engineering, electronic engineering, information engineering ,020201 artificial intelligence & image processing ,General Article ,Mathematical economics - Abstract
To address the rising concern that algorithmic decision-making may reinforce discriminatory biases, researchers have proposed many notions of fairness and corresponding mathematical formalizations. Each of these notions is often presented as a one-size-fits-all, absolute condition; however, in reality, the practical and ethical trade-offs are unavoidable and more complex. We introduce a new approach that considers fairness—not as a binary, absolute mathematical condition—but rather, as a relational notion in comparison to alternative decisionmaking processes. Using US mortgage lending as an example use case, we discuss the ethical foundations of each definition of fairness and demonstrate that our proposed methodology more closely captures the ethical trade-offs of the decision-maker, as well as forcing a more explicit representation of which values and objectives are prioritised.
- Published
- 2020
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