The Unfairness of $\varepsilon$-Fairness

arXiv:2405.09360v1 Announce Type: new
Abstract: Fairness in decision-making processes is often quantified using probabilistic metrics. However, these metrics may not fully capture the real-world consequences of unfairness. In this article, we adopt a utility-based approach to more accurately measure the real-world impacts of decision-making process. In particular, we show that if the concept of $\varepsilon$-fairness is employed, it can possibly lead to outcomes that are maximally unfair in the real-world context. Additionally, we address the common issue of unavailable data …

abstract article arxiv concept consequences cs.lg decision econ.th fairness however impacts making metrics process processes q-fin.mf show stat.ml type utility world