Gravitational-wave astronomy seeks to extract information about astrophysical
systems from the gravitational-wave signals they emit. For coalescing
compact-binary sources this requires accurate model templates for the inspiral
and, potentially, the subsequent merger and ringdown. Models with
frequency-domain waveforms that terminate abruptly in the sensitive band of the
detector are often used for parameter-estimation studies. We show that the
abrupt waveform termination contains significant information that affects
parameter-estimation accuracy. If the sharp cutoff is not physically motivated,
this extra information can lead to misleadingly good accuracy claims. We also
show that using waveforms with a cutoff as templates to recover complete
signals can lead to biases in parameter estimates. We evaluate when the
information content in the cutoff is likely to be important in both cases. We
also point out that the standard Fisher matrix formalism, frequently employed
for approximately predicting parameter-estimation accuracy, cannot properly
incorporate an abrupt cutoff that is present in both signals and templates;
this observation explains some previously unexpected results found in the
literature. These effects emphasize the importance of using complete waveforms
with accurate merger and ringdown phases for parameter estimation.Comment: Very minor changes to match published versio