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Published online by Cambridge University Press: 23 April 2012
We demonstrate that moderate exoplanet radial velocity searches are often subject to the effect of the correlated (red) radial velocity noise. When disregarded, this effect may induce strong distortions in the results of the time series analysis and, ultimately, can even lead to false planet detections. We construct a maximum-likelihood algorithm, which is able to manage this issue rather efficiently.