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\textbf{Abstract}: The time delays between point-like images in gravitational lens systems can be used to measure
both cosmological parameters as well as
probe the dark matter (sub-)structure within the lens galaxy.
With the The upcoming \emph{Large Synoptic Survey Telescope} (LSST),
of order 1000 will monitor $\sim10^3$ lens systems consisting of a foreground elliptical galaxy producing multiple images of a background
quasar will become available. quasar. In an effort to assess the present capabilities of the community to measure accurately the time delays in
these strong gravitational lens systems, and to provide input to future LSST cosmology feasibility studies, we pose a ``Time Delay Challenge'' (TDC). The challenge is organised as a set of ``ladders,''
each containing a group of simulated datasets to be analyzed blindly by participating independent analysis teams. Each rung on
the a ladder consists of a set of realistic mock observed lensed quasar light curves,
with the rungs' datasets increasing in complexity and realism to incorporate a variety of anticipated physical and experimental effects. The initial challenge described here has two ladders, TDC0 and TDC1. TDC0 has a small number of datasets,
and is designed to be used as
training a practise set by the participating teams
as they set up their analysis pipelines. The deadline for
completion of TDC0
is November 1st will be January 14th 2013. The teams that
pass perform sufficiently well on TDC0 will
be then be able to participate in the much more demanding TDC1. TDC1 will consists of
several thousand some $10^3$ lightcurves,
a sample designed to provide the statistical power required to make meaningful statements about the
subpercent sub-percent accuracy that will be required
to provide competitive Dark Energy constraints in the LSST era. In this paper we describe the simulated datasets in general terms,
we lay out the structure of the challenge and
we define
the a minimal set of metrics that will be used to quantify the goodness-of-fit, efficiency, precision, and accuracy of the algorithms. The deadline for
completion of TDC1
is May 1st will be June 14th 2014. The results for TDC1 from the participating teams will be presented in a companion paper to be submitted after the closing of TDC1, with all TDC1 participants as co-authors.