Abstract
The brightest events in a time series of cosmological transients obey an observation time dependence which is often overlooked. This dependence can be exploited to probe the global properties of electromagnetic and gravitational wave transients (Howell et al. 2007a, Coward & Burman 2005). We describe a new relation based on a peak flux--observation time distribution and show that it is invariant to the luminosity distribution of the sources (Howell et al. 2007b). Applying this relation, in combination with a new data analysis filter, to \emph{Swift} gamma-ray burst data, we demonstrate that it can constrain their rate density.
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