Transit depth biases & error bars for 31 planets

The fraction of occulted stellar flux is roughly proportional to the optically thick area of the planet, the extent of which depends on the opacity of the planet's gaseous envelope at the observed wavelengths. Chemical species, haze, and clouds are now routinely detected in exoplanet atmospheres through rather small features in transmission spectra, i.e., collections of planet-to-star area ratios across multiple spectral bins and/or photometric bands.

Technological advances have led to a shrinking of the error bars down to a few tens of parts per million (ppm) per spectral point for the brightest targets. The upcoming James Webb Space Telescope (JWST) is anticipated to deliver transmission spectra with precision down to 10ppm. The increasing precision of measurements requires a reassessment of the approximations hitherto adopted in astrophysical models, including transit light-curve models.