We explore the prospects for constraining cosmology using gravitational-wave
(GW) observations of neutron-star binaries by the proposed Einstein Telescope
(ET), exploiting the narrowness of the neutron-star mass function. Double
neutron-star (DNS) binaries are expected to be one of the first sources
detected after "first-light" of Advanced LIGO and are expected to be detected
at a rate of a few tens per year in the advanced era. However the proposed ET
could catalog tens of thousands per year. Combining the measured source
redshift distributions with GW-network distance determinations will permit not
only the precision measurement of background cosmological parameters, but will
provide an insight into the astrophysical properties of these DNS systems. Of
particular interest will be to probe the distribution of delay times between
DNS-binary creation and subsequent merger, as well as the evolution of the
star-formation rate density within ET's detection horizon. Keeping H_0,
\Omega_{m,0} and \Omega_{\Lambda,0} fixed and investigating the precision with
which the dark-energy equation-of-state parameters could be recovered, we found
that with 10^5 detected DNS binaries we could constrain these parameters to an
accuracy similar to forecasted constraints from future CMB+BAO+SNIa
measurements. Furthermore, modeling the merger delay-time distribution as a
power-law, and the star-formation rate (SFR) density as a parametrized version
of the Porciani and Madau SF2 model, we find that the associated astrophysical
parameters are constrained to within ~ 10%. All parameter precisions scaled as
1/sqrt(N), where N is the number of cataloged detections. We also investigated
how precisions varied with the intrinsic underlying properties of the Universe
and with the distance reach of the network (which may be affected by the
low-frequency cutoff of the detector).Comment: 24 pages, 11 figures, 6 tables. Minor changes to reflect published
version. References updated and correcte