Predictive parity is a fairness criterion requiring equivalent precision or positive predictive value across comparison groups. A model satisfies it when predicted positive outcomes are equally reliable for each relevant subgroup.
A fairness metric that checks whether, for a given classification model, the precision rates are equivalent for subgroups under consideration. For example, a model that predicts college acceptance would satisfy predictive parity for nationality if its precision rate is the same for Lilliputians and Brobdingnagians. Predictive parity is sometime also called predictive rate parity. See "Fairness Definitions Explained" (section 3.2.1) for a more detailed discussion of predictive parity.