Do Prevalent Bias Metrics Capture Allocational Harms from LLMs?

ArXi:2408.01285v2 Announce Type: replace Allocational harms occur when resources or opportunities are unfairly withheld from specific groups. Many proposed bias measures ignore the discrepancy between predictions, which are what the proposed methods consider, and decisions that are made as a result of those predictions. Our work examines the reliability of current bias metrics in assessing allocational harms arising from predictions of large language models (LLMs). We evaluate their predictive validity and utility for model selection across ten LLMs and two allocation tasks.