  When it comes to studying the impacts of decision making, the research has
been largely focused on examining the fairness of the decisions, the long-term
effects of the decision pipelines, and utility-based perspectives considering
both the decision-maker and the individuals. However, there has hardly been any
focus on precarity which is the term that encapsulates the instability in
people's lives. That is, a negative outcome can overspread to other decisions
and measures of well-being. Studying precarity necessitates a shift in focus -
from the point of view of the decision-maker to the perspective of the decision
subject. This centering of the subject is an important direction that unlocks
the importance of parting with aggregate measures to examine the long-term
effects of decision making. To address this issue, in this paper, we propose a
modeling framework that simulates the effects of compounded decision-making on
precarity over time. Through our simulations, we are able to show the
heterogeneity of precarity by the non-uniform ruinous aftereffects of negative
decisions on different income classes of the underlying population and how
policy interventions can help mitigate such effects.
