[brittonsmith]

To see what this means for the cosmological parameters, the best place to look is Figure 15 of the journal article [1]. The effect of the distance bias pushes for a higher value of Omega_M (the fraction of the energy density of the universe in matter) and a lower value of w (a term which characterizes the equation of state of dark energy). The currently accepted values for these two parameters are roughly Omega_M = 0.3 and w = -1. If w = -1, it means that dark energy is consistent with a cosmological constant, which is more-or-less the simplest form of dark energy (not that we really know what it is). Going to w < -1 is interesting because it means that the acceleration of the expansion of the universe will itself also increase, resulting in a Big Rip. If these findings are correct, it would mean the universe is more exotic than previously thought.

Also, here is a nice discussion of the equation of state of dark energy: http://ned.ipac.caltech.edu/level5/March04/Carroll/Carroll4....

1 - http://arxiv.org/pdf/1408.1706v1.pdf