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Machine Learning for Finance

You're reading from   Machine Learning for Finance Principles and practice for financial insiders

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Product type Paperback
Published in May 2019
Publisher Packt
ISBN-13 9781789136364
Length 456 pages
Edition 1st Edition
Languages
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Authors (2):
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Jannes Klaas Jannes Klaas
Author Profile Icon Jannes Klaas
Jannes Klaas
James Le James Le
Author Profile Icon James Le
James Le
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Table of Contents (15) Chapters Close

Machine Learning for Finance
Contributors
Preface
Other Books You May Enjoy
1. Neural Networks and Gradient-Based Optimization 2. Applying Machine Learning to Structured Data FREE CHAPTER 3. Utilizing Computer Vision 4. Understanding Time Series 5. Parsing Textual Data with Natural Language Processing 6. Using Generative Models 7. Reinforcement Learning for Financial Markets 8. Privacy, Debugging, and Launching Your Products 9. Fighting Bias 10. Bayesian Inference and Probabilistic Programming Index

A checklist for developing fair models


With the preceding information, we can create a short checklist that can be used when creating fair models. Each issue comes with several sub-issues.

What is the goal of the model developers?

  • Is fairness an explicit goal?

  • Is the model evaluation metric chosen to reflect the fairness of the model?

  • How do model developers get promoted and rewarded?

  • How does the model influence business results?

  • Would the model discriminate against the developer's demographic?

  • How diverse is the development team?

  • Who is responsible when things go wrong?

Is the data biased?

  • How was the data collected?

  • Are there statistical misrepresentations in the sample?

  • Are sample sizes for minorities adequate?

  • Are sensitive variables included?

  • Can sensitive variables be inferred from the data?

  • Are there interactions between features that might only affect subgroups?

Are errors biased?

  • What are the error rates for different subgroups?

  • What is the error rate of a simple, rule-based alternative?

  • How do the...

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