Extra – counterfactual explanations
Imagine that you apply for a loan from your bank. You prepared well – you checked your credit score and other variables that could affect the bank’s decision. You’re pretty sure that your application will be approved.
On Wednesday morning, you see an email from your bank in your inbox. You’re extremely excited! You open the message, already celebrating and ready to welcome the success!
There’s a surprise in the email.
Your loan application has been rejected.
You call the bank. You ask questions. You want to understand why. At the end of the day, its decision impacts some of your most important plans!
The only response you get from the customer service representative is that you did not meet the criteria. “Which criteria?” you ask. You don’t get a satisfying answer.
You’d like to make sure that you meet the criteria the next time you re-apply, yet it seems that...
