Biased but Not Unfair
"A model charges different rates to groups defined by age This is "biased" as it systematically differentiates."
"A model is bias when it assigns higher or lower premium not justified by differences in cost of providing insurance"
would it be unbiased instead as it differentiates? i have hard time understand "differentiate" and "justified" now.
Comments
Would what be unbiased?
model charges different rates to groups defined by age
If you systematically differentiate, but this differentiation is justified by data, then this is fair. You can think of the term "Differentiate" to be related to bias, while the term "justified" is related to fairness