Crowds, Lending, Machine, and Bias

Runshan Fu
Runshan Fu
[email protected]
https://orcid.org/0000-0002-9455-624X
Heinz College, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213;
Search for more papers by this author
,
Yan Huang
Corresponding Author
Yan Huang
[email protected]
https://orcid.org/0000-0002-2262-1540
Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213
Search for more papers by this author
,
Param Vir Singh
Param Vir Singh
[email protected]
https://orcid.org/0000-0002-0211-7849
Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213
Search for more papers by this author

Heinz College, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213;

Search for more papers by this author

Yan Huang

Corresponding Author

Yan Huang

[email protected]

https://orcid.org/0000-0002-2262-1540

Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213

Search for more papers by this author

Param Vir Singh

[email protected]

https://orcid.org/0000-0002-0211-7849

Tepper School of Business, Carnegie Mellon University, Pittsburgh, Pennsylvania 15213

Search for more papers by this author

Published Online:3 Feb 2021https://doi.org/10.1287/isre.2020.0990

Supplemental Material

isre.2020.0990.sm1.pdf

Cited by
- Fairness at Risk: Where Bias Emerges in Machine Learning
  29 April 2026 | Expert Systems, Vol. 43, No. 6
- Mitigating algorithmic bias in credit scoring support systems through adversarial learning
  Decision Support Systems, Vol. 205
- Up the political ladder: The role of political networks
  Journal of Financial Stability, Vol. 84
- Explainability increases trust resilience in intelligent agents
  21 October 2024 | British Journal of Psychology, Vol. 117, No. 2
- Social Audience Size as a Reference Point: Evidence from a Field Experiment
  Xingchen Xu,
  Qili Wang,
  Yizhi Liu,
  Liangfei Qiu
  8 September 2025 | Management Science, Vol. 72, No. 5
- Welfare implications of fair and accountable insurance pricing
  28 April 2026 | Journal of Risk and Insurance, Vol. 84
- Multimodal Insights into Credit Risk Modelling: Integrating Climate and Text Data for Default Prediction
  21 April 2026 | Information Systems Frontiers, Vol. 24
- Artificial intelligence and career development: Concerns and insights from first-generation college students
  International Journal of Information Management, Vol. 87
- Extending the Digital Divide: The Role of Unequal Analytical Abilities1
  4 March 2026 | MIS Quarterly, Vol. 77
- Integrating artificial intelligence to improve predicting financial performance accuracy: a systematic literature review
  3 March 2026 | Information Technology and Management, Vol. 47
- Algorithmic Lending, Competition, and Strategic Provision of Preapproval Tools
  Qiaochu Wang,
  Yan Huang,
  Param Singh
  1 August 2025 | Marketing Science, Vol. 45, No. 2
- FinTechs Playing in the Regulatory Sandbox—The Effect of Interacting Signals on Funding
  7 July 2025 | Information Systems Journal, Vol. 36, No. 2
- Catch Me If You Can: The Dynamic Nature of Bias in Machine Learning Applications
  8 February 2026 | Information Systems Journal, Vol. 4
- FAIR: A Design Theory for Artificial Intelligence Fairness
  5 January 2026 | MIS Quarterly, Vol. 35
- The Power of Disagreement: A Field Experiment to Investigate Human–Algorithm Collaboration in Loan Evaluations
  Hongchang Wang,
  Yingjie Zhang,
  Tian Lu
  4 July 2025 | Management Science, Vol. 72, No. 1
- Human–Algorithmic Bias: Source, Evolution, and Impact
  Xiyang Hu,
  Yan Huang,
  Beibei Li,
  Tian Lu
  9 September 2025 | Management Science, Vol. 72, No. 1
- Engaging Customers with AI in Online Chats: Evidence from a Randomized Field Experiment
  Shunyuan Zhang,
  Das Narayandas
  1 October 2025 | Management Science, Vol. 72, No. 1
- DispaRisk: Assessing Fairness Through Usable Information
  4 October 2025
- Crowdfunding: A Theory-Centered Review and Roadmap of the Multidisciplinary Literature
  24 April 2025 | Journal of Management, Vol. 52, No. 1
- Strategic Best-Response Fairness Framework for Fair Machine Learning
  Hajime Shimao,
  Warut Khern-Am-Nuai,
  Karthik Kannan,
  Maxime C. Cohen
  7 April 2025 | Information Systems Research, Vol. 36, No. 4
- Irrationality-Aware Human Machine Collaboration: Mitigating Alterfactual Irrationality in Copy Trading
  Zhe Shen,
  Wei Jiang,
  Zhiqiang (Eric) Zheng
  9 April 2025 | Information Systems Research, Vol. 36, No. 4
- The role of artificial intelligence algorithms in information systems research: a conceptual overview and avenues for research
  24 June 2024 | Management Review Quarterly, Vol. 75, No. 4
- Navigating AI conformity: A design framework to assess fairness, explainability, and performance
  12 March 2025 | Electronic Markets, Vol. 35, No. 1
- Mitigating Bias in Hate Speech Detection With a Small Number of Expert Annotations: A Prompt-Based Learning Approach
  1 December 2025 | MIS Quarterly, Vol. 49, No. 4
- Unequal Impact of Zestimate on the Housing Market
  Runshan Fu,
  Yan Huang,
  Nitin Mehta,
  Param Vir Singh,
  Kannan Srinivasan
  17 July 2025 | Marketing Science, Vol. 44, No. 6
- Self-Driving Technology and Its Acceptance: Explaining Differences in Reactions of the Heterogeneous Population to Potential Policies
  15 May 2025 | Production and Operations Management, Vol. 34, No. 11
- Turning Off Your Better Judgment: Algorithmic Conformity in Artificial Intelligence-Human Collaboration
  19 November 2025 | Journal of Management Information Systems, Vol. 42, No. 4
- Revealed Wisdom of the Crowd: Bids Predict Loan Quality
  Jiayu Yao,
  Mingfeng Lin,
  D. J. Wu
  20 January 2025 | Management Science, Vol. 71, No. 10
- Find the Good. Seek the Unity: A Hidden Markov Model of Human-AI Delegation Dynamics
  1 September 2025 | MIS Quarterly, Vol. 49, No. 3
- Technology-enabled innovations in financial markets and retail investors: a systematic literature review
  10 June 2025 | Journal of Accounting Literature, Vol. 45
- Human-Centered AI in FinTech: A Conceptual Model and Strategic Research Agenda
- Enabling explainable artificial intelligence capabilities in supply chain decision support making
  27 February 2024 | Production Planning & Control, Vol. 36, No. 6
- Gaining a Seat at the Table: Enhancing the Attractiveness of Online Lending for Institutional Investors
  Ram D. Gopal; ,
  Xiao Qiao,
  Moris S. Strub; ,
  Zonghao Yang;
  5 April 2024 | Information Systems Research, Vol. 36, No. 1
- 1 + 1 > 2? Information, Humans, and Machines
  Tian Lu; ,
  Yingjie Zhang
  2 May 2024 | Information Systems Research, Vol. 36, No. 1
- Optimal interest rates personalization in FinTech lending
  25 July 2023 | Information Technology and Management, Vol. 26, No. 1
- Rise of the Machines: The Impact of Automated Underwriting
  Mark Jansen; ,
  Hieu Quang Nguyen; ,
  Amin Shams
  30 April 2024 | Management Science, Vol. 71, No. 2
- Toward a Fairness-Aware Scoring System for Algorithmic Decision-Making
  30 January 2025 | Production and Operations Management, Vol. 1
- Toward an evolving framework for responsible AI for credit scoring in the banking industry
  7 January 2025 | Journal of Information, Communication and Ethics in Society, Vol. 23, No. 1
- Modeling and Interpreting the Propagation Influence of Neighbor Information in Time-Variant Networks with Exemplification by Financial Risk Prediction
  17 February 2025 | Journal of Management Information Systems, Vol. 42, No. 1
- Algorithmic Pricing with Restricted Consumer Characteristics
  1 January 2025 | SSRN Electronic Journal, Vol. 132
- Engaging Customers with AI in Online Chats: Evidence from a Randomized Field Experiment
  1 January 2025 | SSRN Electronic Journal, Vol. 7
- Relieving Bias in Hate Speech Detection with a Small Number of Expert Annotations: A Prompt-based Learning Approach
  1 January 2025 | SSRN Electronic Journal, Vol. 30
- ‘It just seems that they don’t act like men’: The influence of gender role stereotypes on women’s entrepreneurial innovation activities
  Journal of Business Research, Vol. 185
- AI in business research
  6 November 2024 | Decision Sciences, Vol. 55, No. 6
- When Justice is Blind to Algorithms: Multilayered Blackboxing of Algorithmic Decision-Making in the Public Sector
  1 December 2024 | MIS Quarterly, Vol. 48, No. 4
- The Effect of AI-Enabled Credit Scoring on Financial Inclusion: Evidence from an Underserved Population of over One Million
  1 December 2024 | MIS Quarterly, Vol. 48, No. 4
- AI and Discrimination: Sources of Algorithmic Biases
  22 October 2024 | ACM SIGMIS Database: the DATABASE for Advances in Information Systems, Vol. 55, No. 4
- Crowdfunding performance prediction using feature‐selection‐based machine learning models
  27 June 2024 | Expert Systems, Vol. 41, No. 10
- Modeling Individual Fairness Beliefs and Its Applications
  11 September 2024 | ACM Transactions on Management Information Systems, Vol. 15, No. 3
- Explainable AI for enhanced decision-making
  Decision Support Systems, Vol. 184
- AIM: Attributing, Interpreting, Mitigating Data Unfairness
  24 August 2024
- Throwing Good Money After Bad: Risk Mitigation Strategies in the P2P Lending Platforms
  18 July 2023 | Information Systems Frontiers, Vol. 26, No. 4
- Economic forecasting with big data: A literature review
  Journal of Management Science and Engineering, Vol. 9, No. 2
- How Does a Firm Adapt in a Changing World? The Case of Prosper Marketplace
  Xinlong Li,
  Andrew T. Ching
  27 December 2023 | Marketing Science, Vol. 43, No. 3
- Assessing financial distress of SMEs through event propagation: An adaptive interpretable graph contrastive learning model
  Decision Support Systems, Vol. 180
- Goal Orientation for Fair Machine Learning Algorithms
  18 March 2024 | Production and Operations Management, Vol. 80
- The formal rationality of artificial intelligence-based algorithms and the problem of bias
  29 May 2023 | Journal of Information Technology, Vol. 39, No. 1
- Noisy Label Detection and Counterfactual Correction
  IEEE Transactions on Artificial Intelligence, Vol. 5, No. 2
- The Effect of AI-Enabled Credit Scoring on Financial Inclusion: Evidence from One Million Underserved Population
  1 January 2024 | SSRN Electronic Journal, Vol. 13
- Value of Autonomous Last-mile Delivery: Evidence from Alibaba
  1 January 2024 | SSRN Electronic Journal, Vol. 22
- Generative AI and Price Discrimination in the Housing Market
  1 January 2024 | SSRN Electronic Journal, Vol. 30
- When Systemic Biases Taint Algorithms: A Path to More Equitable Access in Healthcare
  1 January 2024 | SSRN Electronic Journal, Vol. 66
- Beyond the Value for AI Adopters: Analyzing the Impacts of Autonomous Vehicle Testing on Traffic Conditions in California
  1 January 2024 | SSRN Electronic Journal, Vol. 105
- Unpacking Human and AI Complementarity: Insights from Recent Works
  1 January 2024 | SSRN Electronic Journal, Vol. 45
- Metric-Independent Mitigation of Unpredefined Bias in Machine Classification
  8 April 2024 | Intelligent Computing, Vol. 3
- The Crowd Beyond Funders: An Integrative Review of and Research Agenda for Crowdfunding
  Academy of Management Annals, Vol. 18, No. 1
- Shaping crowdlending investors’ trust: Technological, social, and economic exchange perspectives
  25 May 2023 | Electronic Markets, Vol. 33, No. 1
- FinTech credit: uncovering knowledge base, intellectual structure and research front
  15 August 2023 | International Journal of Bank Marketing, Vol. 41, No. 7
- Depicting Risk Profile over Time: A Novel Multiperiod Loan Default Prediction Approach
  1 December 2023 | MIS Quarterly, Vol. 47, No. 4
- Profit vs. Equality? The Case of Financial Risk Assessment and A New Perspective on Alternative Data
  1 December 2023 | MIS Quarterly, Vol. 47, No. 4
- Crowdfunding platforms: a systematic literature review and a bibliometric analysis
  29 April 2023 | International Entrepreneurship and Management Journal, Vol. 19, No. 3
- Unpacking Human and AI Complementarity: Insights from Recent Works
  4 August 2023 | ACM SIGMIS Database: the DATABASE for Advances in Information Systems, Vol. 54, No. 3
- ARTIREV: An Integrated Bibliometric Tool to Efficiently Conduct Quality Literature Reviews
  Systèmes d'information & management, Vol. Volume 27, No. 4
- More Than Just a Policy: Day-to-Day Effects of Data Governance on the Data Scientist
  15 August 2023
- Realising Fair Outcomes from Algorithm-Enabled Decision Systems: An Exploratory Case Study
  30 April 2023
- Estimating the Risk of Individual Discrimination of Classifiers
  27 May 2023
- Information Transparency and Market Efficiency in Blockchain-enabled Marketplaces: Role of Traders’ Analytical Ability
  1 January 2023 | SSRN Electronic Journal, Vol. 84
- Inclusive Decision Making via Contrastive Learning and Domain Adaptation
  1 January 2023 | SSRN Electronic Journal, Vol. 41
- Architectural Design of a Blockchain-Enabled, Federated Learning Platform for Algorithmic Fairness in Predictive Health Care: Design Science Study
  30 October 2023 | Journal of Medical Internet Research, Vol. 25
- Equity Crowdfunding and Startup Performance
  1 January 2023 | SSRN Electronic Journal, Vol. 39
- Human-machine hybrid prediction market: A promising sales forecasting solution for E-commerce enterprises
  Electronic Commerce Research and Applications, Vol. 56
- Know Where to Invest: Platform Risk Evaluation in Online Lending
  Zhao Wang,
  Cuiqing Jiang,
  Huimin Zhao
  28 December 2021 | Information Systems Research, Vol. 33, No. 3
- Information Asymmetry Among Investors and Strategic Bidding in Peer-to-Peer Lending
  Kai Lu,
  Zaiyan Wei,
  Tat Y. Chan
  21 December 2021 | Information Systems Research, Vol. 33, No. 3
- Designing Digital Market Offerings: How Digital Ventures Navigate the Tension Between Generative Digital Technology and the Current Environment
  1 September 2022 | MIS Quarterly, Vol. 46, No. 3
- “Un”Fair Machine Learning Algorithms
  Runshan Fu,
  Manmohan Aseri,
  Param Vir Singh,
  Kannan Srinivasan
  21 October 2021 | Management Science, Vol. 68, No. 6
- Combining white box models, black box machines and human interventions for interpretable decision strategies
  1 January 2023 | Judgment and Decision Making, Vol. 17, No. 3
- An uncertainty-oriented cost-sensitive credit scoring framework with multi-objective feature selection
  Electronic Commerce Research and Applications, Vol. 53
- The Economic and Social Consequences of Digital Platforms: A Systematic and Interdisciplinary Literature Review
  8 May 2022
- Algorithmic Lending, Competition, and Strategic Information Disclosure
  SSRN Electronic Journal, Vol. 40
- 1+1>2? Information, Humans, and Machines
  SSRN Electronic Journal, Vol. 33
- Human-Algorithm Interactions: Evidence from Zillow.com
  SSRN Electronic Journal, Vol. 108
- Data and Algorithm Pricing: Incentive Mechanisms Design for Federated Learning
  SSRN Electronic Journal, Vol. 92
- The Economic and Social Consequences of Digital Platforms: A Systematic and Interdisciplinary Literature Review
  SSRN Electronic Journal, Vol. 66
- Find the Good. Seek the Unity: A Hidden Markov Model of Human-AI Delegation Dynamics
  SSRN Electronic Journal, Vol. 45
- Uncovering The Source of Machine Bias
  SSRN Electronic Journal, Vol. 11
- Welfare Implications of Fairness and Accountability for Insurance Pricing
  SSRN Electronic Journal, Vol. 84
- A Machine Learning Approach to Mitigating Irrationality in Copy Trading
  SSRN Electronic Journal, Vol. 64
- Promise or Peril? When Human Efficacy Meets AI Capability Augmentation
  SSRN Electronic Journal, Vol. 21
- Interpretable data science for decision making
  Decision Support Systems, Vol. 150
- Managing Artificial Intelligence
  1 September 2021 | MIS Quarterly, Vol. 45, No. 3
- Can an AI Algorithm Mitigate Racial Economic Inequality? An Analysis in the Context of Airbnb
  SSRN Electronic Journal, Vol. 34
- Revealed Wisdom of the Crowd: Informational Value of Bids
  SSRN Electronic Journal, Vol. 14
- Is That Decision Fair? A Formal Model to Assess an Individual's Belief on the Fairness of a Decision
  SSRN Electronic Journal, Vol. 28
- Visualizing The Implicit Model Selection Tradeoff
  SSRN Electronic Journal, Vol. 64
- Tradeoffs in Automated Political Advertising Regulation: Evidence from the COVID-19 Pandemic
  SSRN Electronic Journal, Vol. 25
- Algorithmic Transparency with Strategic Users
  SSRN Electronic Journal, Vol. 147
- Algorithmic Discrimination in Service
  SSRN Electronic Journal, Vol. 30
- Human vs. Machine: Underwriting Decisions in Finance
  SSRN Electronic Journal, Vol. 99
- Ensuring Strategic Best-Response Fairness in Machine Learning: Enhanced Color Blind Algorithm
  SSRN Electronic Journal, Vol. 116
- Information Asymmetry and Strategic Early Bidding in Peer-to-Peer Lending
  SSRN Electronic Journal, Vol. 34
- How Does a Firm Adapt in a Changing World? The Case of Prosper Marketplace
  SSRN Electronic Journal, Vol. 56
- 'Un'Fair Machine Learning Algorithms
  SSRN Electronic Journal, Vol. 104

cover image Information Systems Research

Volume 32, Issue 1

March 2021

Pages iii-vi, 1-299

Article Information

Supplemental Material

Metrics

Information

Received:June 30, 2018
Accepted:October 18, 2020
Published Online:February 03, 2021

Cite as

Runshan Fu, Yan Huang, Param Vir Singh (2021) Crowds, Lending, Machine, and Bias. Information Systems Research 32(1):72-92.

https://doi.org/10.1287/isre.2020.0990

Keywords

PDF download

Available Issues

Available Issues

Available Issues

Available Issues

Available Issues

Crowds, Lending, Machine, and Bias

Supplemental Material

Volume 32, Issue 1

Article Information

Supplemental Material

Metrics

Information

Cite as

Keywords

Sign Up for INFORMS Publications Updates and News