In respect to racial discrimination in lending, we introduce global Shapley value and Shapley-Lorenz explainable AI methods to attain algorithmic justice. Using 157,269 loan applications during 2017 in New York, we confirm that these methods, consistent with the parameters of a logistic...

The Digital Age is speedily transforming into the Algorithmic Age, where algorithms carry on or contribute to a significant number of important social, economic, and technical decision-making. Apart from platform dominance, private governance, and surveillance capitalism, private and public use...

Online Appendix of “Steering via Algorithmic Recommendations” Chen and Tsai (2019)This paper studies whether self-preferencing affects algorithmic recommendations on dominant platforms. We focus on the dual role of Amazon.com as a platform owner and retailer. We find that products sold by...

This textbook introduces the mathematical models and algorithms utilised in machine learning, covering supervised and unsupervised learning as well as reinforcement learning: In supervised learning we present ensemble models, artificial neural networks, deep neural networks, recurrent neural...

From the dawn of civilisation, automation and innovation have been at the forefront of society. At present, employers are eagerly looking for ways to optimise work and production processes. While AI has the potential to transform work and workplaces, displace jobs, create new jobs, and impact...

Covariates in regressions may be linked to each other on a network. Knowledge of the network structure can be incorporated into regularized regression settings via a network penalty term. However, when it is unknown whether the connection signs in the network are positive (connected covariates...

Algorithms play an increasingly important role in economic situations. Often these situations are strategic, where the artificial intelligence may or may not be cooperative. We study the determinants and forms of algorithmic cooperation in the infinitely repeated prisoner's dilemma. We run a...

The paper explores algorithmically created personalized wages: what they are, what they mean, and what we can do about them. First, it establishes a taxonomy of five different forms of algorithmic wage differentiation:- productivity-based wage adjustments,- wages shifted through incentive...