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  • Article

Counterfactual Explanations Can Be Manipulated

By: Dylan Slack, Sophie Hilgard, Himabindu Lakkaraju and Sameer Singh
Counterfactual explanations are useful for both generating recourse and auditing fairness between groups. We seek to understand whether adversaries can manipulate counterfactual explanations in an algorithmic recourse setting: if counterfactual explanations indicate... View Details
Keywords: Machine Learning Models; Counterfactual Explanations
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  • 2022
  • Article

Exploring Counterfactual Explanations Through the Lens of Adversarial Examples: A Theoretical and Empirical Analysis.

By: Martin Pawelczyk, Chirag Agarwal, Shalmali Joshi, Sohini Upadhyay and Himabindu Lakkaraju
As machine learning (ML) models become more widely deployed in high-stakes applications, counterfactual explanations have emerged as key tools for providing actionable model explanations in practice. Despite the growing popularity of counterfactual explanations, a... View Details
Keywords: Machine Learning Models; Counterfactual Explanations; Adversarial Examples; Mathematical Methods
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  • Article

Learning Models for Actionable Recourse

By: Alexis Ross, Himabindu Lakkaraju and Osbert Bastani
As machine learning models are increasingly deployed in high-stakes domains such as legal and financial decision-making, there has been growing interest in post-hoc methods for generating counterfactual explanations. Such explanations provide individuals adversely... View Details
Keywords: Machine Learning Models; Recourse; Algorithm; Mathematical Methods
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  • Research Summary

Selection, Reallocation, and Spillover: Identifying the Sources of Gains from Multinational Production (with Maggie Chen)

By: Laura Alfaro

Quantifying the gains from multinational production has been a vital topic of economic research. Positive productivity gains are often attributed to knowledge spillover from multinational to domestic firms. An alternative, less stressed explanation is firm selection... View Details

Keywords: Gains From Multinational Production; Firm Selection; Knowledge Spillover
  • 2023
  • Working Paper

The Market for Sharing Interest Rate Risk: Quantities and Asset Prices

By: Umang Khetan, Jane Li, Ioana Neamtu and Ishita Sen
We study the extent of interest rate risk sharing across the financial system using granular positions and transactions data in interest rate swaps. We show that pension and insurance (PF&I) sector emerges as a natural counterparty to banks and corporations: overall,... View Details
Keywords: Interest Rates; Investment Funds; Banks and Banking; Insurance; Investment Banking; Risk and Uncertainty
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  • Article

Beyond Individualized Recourse: Interpretable and Interactive Summaries of Actionable Recourses

By: Kaivalya Rawal and Himabindu Lakkaraju
As predictive models are increasingly being deployed in high-stakes decision-making, there has been a lot of interest in developing algorithms which can provide recourses to affected individuals. While developing such tools is important, it is even more critical to... View Details
Keywords: Predictive Models; Decision Making; Framework; Mathematical Methods
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  • TeachingInterests

Interpretability and Explainability in Machine Learning

By: Himabindu Lakkaraju

As machine learning models are increasingly being employed to aid decision makers in high-stakes settings such as healthcare and criminal justice, it is important to ensure that the decision makers correctly understand and consequent trust the functionality of these... View Details

  • Web

Research - Behavioral Finance & Financial Stability

fintech platform, the authors find that, compared to actual outcomes of the fintech platform’s model, the counterfactual outcomes based on a “traditional model” used for regulatory reporting purposes would result in a 60% higher... View Details
  • 20 Jan 2010
  • First Look

First Look: Jan. 20

globalization and liberalization have increased the competitiveness of product markets, one explanation for the trend towards decentralization could be increased competition. Of course there are a range of other factors that may also be... View Details
Keywords: Martha Lagace
  • 27 Jun 2017
  • First Look

First Look at New Research and Ideas, June 27

ambiguous effect on high-quality output. To evaluate this trade-off, I develop a procedure to estimate agents' effort costs and simulate counterfactuals under alternative feedback policies. The results suggest that feedback on net... View Details
Keywords: Sean Silverthorne
  • 09 May 2017
  • First Look

New Research and Ideas, May 9

the data support our model over alternative explanations such as recession-induced reduction in agency costs (due to managerial fears of bankruptcy) and changing coordination costs. Countries with more decentralized firms (like the U.S.)... View Details
Keywords: Sean Silverthorne
  • 17 Jul 2012
  • First Look

First Look: July 17

gains from multinational production has been a vital topic of economic research. Positive productivity gains are often attributed to knowledge spillover from multinational to domestic firms. An alternative, less stressed explanation is... View Details
Keywords: Sean Silverthorne