The Ghost in the MP3

Overview

The MPEG-1 or MPEG-2 Layer III standard, more commonly referred to as MP3, implements a lossy compression algorithm based on a perceptual model of human hearing. Listening tests, primarily designed by and for Western-European men, were used to refine the encoder. Which artifacts are created by encoding? Which sounds are lost? Where, if it exists, is the ghost in the MP3?