My definition is the same as yours - it's exactly about the existence of rejected women who are better than accepted men.
This particular test is terrible for VC since the min return in VC will always be zero. But if you build a noise-sensitive version for something like college admissions, what needs to be true is a) bias manifests as raising/lowering the bar for one group relative to another, and b) both groups have a significant number of members near the cutoff.
As an example of the type of bias this test would detect, consider U-Michigan's point system [1]. An extra +1.0 GPA was added to black applicants. I.e. an Asian person with 3.9 GPA and black person with 2.9 GPA were equivalent. This would result in Asian people having a higher min GPA than black people.
[1] They replaced the point system with vague human heuristics when the supreme court said point systems can't be racist, but vague heuristics can.
This particular test is terrible for VC since the min return in VC will always be zero. But if you build a noise-sensitive version for something like college admissions, what needs to be true is a) bias manifests as raising/lowering the bar for one group relative to another, and b) both groups have a significant number of members near the cutoff.
As an example of the type of bias this test would detect, consider U-Michigan's point system [1]. An extra +1.0 GPA was added to black applicants. I.e. an Asian person with 3.9 GPA and black person with 2.9 GPA were equivalent. This would result in Asian people having a higher min GPA than black people.
[1] They replaced the point system with vague human heuristics when the supreme court said point systems can't be racist, but vague heuristics can.