Characterizing Fairness Over the Set of Good Models Under Selective Labels
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Algorithmic risk assessments are increasingly used to make and inform decisions in a wide variety of high-stakes settings. In practice, there is often a multitude of predictive models that deliver similar overall performance, an empirical phenomenon commonly known as the "Rashomon Effect." While many competing models may perform similarly overall, they may have different properties over various subgroups, and therefore have drastically different predictive fairness properties. In this paper, we develop a framework for characterizing predictive fairness properties over the set of models that deliver similar overall performance, or "the set of good models." We provide tractable algorithms to compute the range of attainable group-level predictive disparities and the disparity minimizing model over the set of good models. We extend our framework to address the empirically relevant challenge of selectively labelled data in the setting where the selection decision and outcome are unconfounded given the observed data features. We illustrate our methods in two empirical applications. In a real world credit-scoring task, we build a model with lower predictive disparities than the benchmark model, and demonstrate the benefits of properly accounting for the selective labels problem. In a recidivism risk prediction task, we audit an existing risk score, and find that it generates larger predictive disparities than any model in the set of good models.
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