Figure 3.

Illustration of finite-sample bias when using the CSEM. Point estimates are given based on the average of two-thousand simulation replicates at each sample size, and 95% confidence intervals are given based on the simulated standard error of the estimate (given by the Monte-Carlo based standard deviation divided by $\sqrt{2000}$). For sample sizes of N = 200-500, the CSEM can provide estimates that are modestly biased (although not as much so as the simpler approaches such as the Ignore approach). For sample sizes of larger than N = 5000, the finite-sample bias appears to be negligible in this setting.