  We derive the essentials of the skewed weak lensing likelihood via a simple
Hierarchical Model. Our likelihood passes four objective and
cosmology-independent tests which a standard Gaussian likelihood fails. We
demonstrate that sound weak lensing analyses are naturally biased low, and this
does not indicate any new physics such as deviations from $\Lambda$CDM.
Mathematically, the biases arise because noisy two-point functions follow
skewed distributions. This form of bias is already known from CMB analyses,
where the low multipoles have asymmetric error bars. Weak lensing is more
strongly affected by this asymmetry as galaxies form a discrete set of shear
tracer particles, in contrast to a smooth shear field. We demonstrate that the
biases can be up to 30 percent of the standard deviation per data point,
dependent on the properties of the weak lensing survey. Our likelihood provides
a versatile framework with which to address this bias in future weak lensing
analyses.
