We investigate biases in the measurement of exoplanet orbital
parameters – especially eccentricity – from radial velocity (RV)
observations. In this contribution we consider single-planet
systems. We create a mock catalog of RV data, choosing planet masses
and orbital periods, and observing patterns to mimic those of actual RV
surveys. Using Markov chain Monte Carlo (MCMC) simulations, we
generate a posterior sample for each mock data set, calculate best-fit
orbital parameters for each data set, and compare these to the true
values. We find that the precision of our derived eccentricities is
most closely related to the effective signal-to-noise ratio,
K√N/σ, where K is the velocity amplitude, σ is
the effective single-measurement precision, and N is the number of
observations. We also find that eccentricities of planets on nearly
circular (e<0.05) orbits are preferentially overestimated. While the
Butler et al. (2006) catalog reports e<0.05 for just 20% of its
planets, we estimate that the true fraction of e<0.05 orbits is
about 50%. We investigate the accuracy, precision, and bias of
alternative sets of summary statistics and find that the median values
of h = esinω and k = ecosω (where ω is the
longitude of periapse) of the posterior sample typically provide more
accurate, more precise, and less biased estimates of eccentricity than
traditional measures.