Donald Bowen
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bowen.finance
Donald Bowen
@bowen.finance
Bridging finance & tech @ Lehigh. Research: 💡innovation, 🤖 AI lending, ⚖️ algorithmic bias, & 🚀 startups. Data and papers at https://bowen.finance
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WP thread: “Measuring and Mitigating Racial Bias in LLM Mortgage Underwriting” with Don Bowen, McKay Price, and Ke Yang

Our audit study asks AI to assess simple mortgage applications (real HMDA data w/ randomized race and credit scores)

🦶🦶🏼🦶🏿 Download lukeste.in/llmmortgage

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Reposted by Donald Bowen
THREAD: In 2023, I received an envelope with no return address. Inside was a flash drive containing tens of 1000s of secret files.

It came from a vigilante with a tumultuous past, who'd conducted a years-long undercover operation. He didn’t tell the FBI or his family. He only told me.
January 4, 2025 at 12:48 PM
🧵 I'm happy to share an updated draft!

"Revisiting Board Independence Mandates: Evidence from Director Reclassifications" provides causal evidence on the effects of mandated board independence.

Joint with Jerome Taillard (@babsoncollege.bsky.social)

#ASSA2025 #EconSky #FinSky

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January 2, 2025 at 5:02 PM
@emollick.bsky.social I thought this little trick mighty be of interest
Somehow, just asking LLM to be unbiased
• Eliminates approval recommendation gap (on average and across different credit scores)
• Reduces average racial interest rate gap by about 60% (from 35bp to 14), with even larger effects for lower-credit-score Black applicants

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December 18, 2024 at 5:02 PM
Can't wait for the @khoavuumn.bsky.social meme on this paper
An academic paper has excellent empirical evidence & hypotheses that perfectly match the patterns in the data.

One catch: AI wrote the hypotheses after seeing the results.

Should this matter?

New paper w/ Robert Novy-Marx on AI-Powered (Finance) Scholarship🧵

papers.ssrn.com/sol3/papers....
December 17, 2024 at 2:43 PM
Really cool work that raises questions about how we think about science and progress. The push towards pre registration has benefits but foregoing HARKing has many costs too. The optimal balance is not obvious!
An academic paper has excellent empirical evidence & hypotheses that perfectly match the patterns in the data.

One catch: AI wrote the hypotheses after seeing the results.

Should this matter?

New paper w/ Robert Novy-Marx on AI-Powered (Finance) Scholarship🧵

papers.ssrn.com/sol3/papers....
December 17, 2024 at 2:40 PM
My coauthors (@lukestein.com, McKay Price, and Ke Yang) and I were thrilled to find out our work “Measuring and Mitigating Racial Disparities in LLM Mortgage Underwriting” was recognized as the Best Paper at the (fantastic!) New Zealand Finance Meeting
acfr.aut.ac.nz/conferences-...
December 9, 2024 at 5:49 PM
WP thread: “Measuring and Mitigating Racial Bias in LLM Mortgage Underwriting” with Don Bowen, McKay Price, and Ke Yang

Our audit study asks AI to assess simple mortgage applications (real HMDA data w/ randomized race and credit scores)

🦶🦶🏼🦶🏿 Download lukeste.in/llmmortgage

1/
December 9, 2024 at 5:43 PM
Excluding my dormant personal FB page, this is my first social media post ever, so I'm going to start by copying a few posts by someone that knows how to use social media very well, and won't be offended on account of friendship and coauthorship: @lukestein.com
December 9, 2024 at 5:32 PM