Research

"Fair Loan Pricing Without Protected Attributes: A Generative Adversarial Approach" (with Ram Gopal, Xiao Qiao, and Moris Strub), Job Market Paper, Under Review

Selected conference: BizAI 2026, UD and Philly Fed Fintech & Financial Institutions Conference 2025, ICIS 2024, WITS 2023

Abstract: Algorithmic underwriting systems must set interest rates that are commensurate with credit risk, yet two pricing failures persist: demographic bias correlated with protected borrower attributes, and risk distortions across the creditworthiness distribution. Fair-lending regulation often prevents platforms from observing the protected attributes used in most debiasing approaches. We study this as a problem of fair loan pricing without protected attributes. We propose equalized loan attractiveness as a fairness criterion for loan pricing and implement it through Generative Adversarial Pricing (GAP), a framework that learns risk-commensurate interest rates without using protected attributes. Drawing on nearly two million unsecured personal loans from Prosper and LendingClub, we provide suggestive evidence of bias against African American borrowers and recipients of public assistance. We also find evidence consistent with risk distortions, where borrowers with lower FICO scores are charged disproportionately higher rates than their credit risk warrants. In out-of-sample tests, GAP reduces these disparities and distortions while preserving risk-based pricing. The results suggest that fairer loan pricing is feasible even when protected attributes cannot be collected

"Can Generative AI Truly Democratize Investment Analysis? An Evaluation of Gemini Deep Research" (with Qian Pan and Zhenyu Cui)

Deep Research Reports for Financial Forecasting: Link to Hosting Website
Selected conference: AMCIS 2026

Journal Publication

"Gaining a Seat at the Table: Enhancing the Attractiveness of Online Lending for Institutional Investors" (with Ram Gopal, Xiao Qiao, and Moris Strub), Information Systems Research (2025), 36(1), 326-343. [DOI]

Online interactive dashboard with Tableau: Link to Dashboard
Media: The European Financial Review, Fintech Global

Peer-Reviewed Conference Proceeding

"Levelling the Field: Equitable Interest Rates for Unsecured Personal Loans" (with Ram Gopal, Xiao Qiao, and Moris Strub), ICIS 2024 Proceeding [Link to Paper]

"Can Generative AI Truly Democratize Investment Analysis? An Evaluation of Gemini Deep Research" (with Qian Pan and Zhenyu Cui), AMCIS 2026 Proceeding

Presentations

Econometric Society Interdisciplinary Frontier (ESIF) Economics and AI+ML Meeting, Cornell University, Ithaca, NY, U.S., June 2026
Mid-Atlantic Association of Colleges of Business Administration (MAACBA) Annual Conference, University of Maryland, College Park, MD, U.S., June 2026 [Presentation Slides]
BizAI Conference, Dallas, TX, U.S., Mar 2026
Workshop on Information Technologies and Systems, Nashville, TN, U.S., Dec 2025 (Discussion)
4th Hong Kong Conference for Fintech, AI, and Big Data in Business, Hong Kong SAR, China, May 2025 (Discussion)
University of Delaware and Federal Reserve Bank of Philadelphia Fintech & Financial Institutions Conference, Philadelphia, PA, U.S., Apr 2025
POMS-HK International Conference, Hong Kong SAR, China, Jan 2025
International Conference on Information Systems, Bangkok, Thailand, Dec 2024
The 1st Workshop on LLMs and Generative AI for Finance, Brooklyn, NY, U.S. (poster), Nov 2024
INFORMS ISS Paper Development Workshop for Early Career Scholars, Seattle, WA, U.S., Oct 2024
INFORMS Workshop on Data Science, Seattle, WA, U.S., Oct 2024
POMS-HK International Conference, Hong Kong SAR, China, Jan 2024
Workshop on Information Technologies and Systems, Online, Dec 2023
Annual Meeting of Financial Engineering and Financial Risk Management Branch of the OR Society of China, Fuzhou, China, Nov 2023
INFORMS Annual Meeting, Phoenix, AZ, U.S., Oct 2023
Applied Economics Student Workshop, National University of Singapore, Sept 2023
Asia Meeting of Econometric Society in China, Tsinghua University, Beijing, China, Jun 2023
Global AI Finance Research Conference, Singapore, Dec 2022
New Zealand Finance Meeting, University of Auckland, Online, Dec 2022
PhD Student Workshop, City University of Hong Kong, Online, Nov 2022
INFORMS Annual Meeting, Indianapolis, IN, U.S., Oct 2022
Conference on Information Systems and Technology (CIST), Indianapolis, IN, U.S., Oct 2022

Greater China Area Finance Conference, Xiamen University, Online, Jun 2022

Research Seminars

Futu (Online), May 2026
ESSEC Business School, Dec 2023
University of Florida, Warrington College of Business, Dec 2023
University of Delaware, Lerner College of Business and Economics, Dec 2023
Bentley University, Dec 2023
University of Science and Technology of China, School of Management, Dec 2023
Stevens Institute of Technology, School of Business, Nov 2023
University of Warwick, Warwick Business School, Oct 2023

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