On the significance of new physics in $b\to s\ell^+\ell^-$ decays
Gino Isidori, Davide Lancierini, Patrick Owen, Nicola Serra

TL;DR
This paper assesses the global significance of potential new physics in $b\to s\ell^+\ell^-$ decays, accounting for the look-elsewhere effect, and finds a 4.3 sigma deviation from the Standard Model using recent collider data.
Contribution
It introduces a comprehensive evaluation of the global significance of new physics signals in $b\to s\ell^+\ell^-$ decays, including the look-elsewhere effect and a conservative treatment of uncertainties.
Findings
Global significance of new physics is 4.3 sigma.
Look-elsewhere effect trial factor can be as high as seven.
Conservative uncertainty treatment supports the significance estimate.
Abstract
Motivated by deviations with respect to Standard Model predictions in decays, we evaluate the global significance of the new physics hypothesis in this system by including the {\it look-elsewhere effect} for the first time. We estimate the trial-factor with pseudo-experiments and find that it can be as large as seven. We calculate the global significance for the new physics hypothesis by considering the most general description of a non-standard amplitude of short-distance origin. Theoretical uncertainties are treated in a highly conservative way by absorbing the corresponding effects into a redefinition of the Standard Model amplitude. Using the most recent measurements of LHCb, ATLAS and CMS, we obtain the global significance to be standard deviations.
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