Re:Discrimination in the Age of Algorithms
by whatshisface on Saturday March 02, 2019 @07:16PM
(#19291954)
>is to only allow it to be based on previous individual financial behavior
Your financial history includes your rent or mortgage payments, which are for living at your zip code. Restriction to financial history is not all that much of a restriction.
Re:Discrimination in the Age of Algorithms
by obastani on Saturday March 02, 2019 @09:06PM
(#19292297)
In principle I agree with what you are saying. We have to be a bit careful, however, since past financial history may have itself been biased by prejudice, e.g., if you were unfairly denied a job based on your race. Of course, we sometimes have to draw the line somewhere, and personally I agree that using previous financial behavior probably is fair.
The solution is pretty much that simple. I would argue that all correlative models dealing with human beings will always be discriminatory.
Will loans become more expensive for many people? Sure. But that is the true solution. Sometimes the right decision is simple but unconfortable. In my opinion, this is one of those times.