Lensing and caustic effects on cosmological distances
  We consider the changes which occur in cosmological distances due to the combined effects of some null geodesics passing through low-density regions while others pass through lensing-induced caustics. This combination of effects increases observed areas corresponding to a given solid angle even when averaged over large angular scales, through the additive effect of increases on all scales, but particularly on micro-angular scales; however angular sizes will not be significantly effected on large angular scales (when caustics occur, area distances and angular-diameter distances no longer coincide). We compare our results with other works on lensing, which claim there is no such effect, and explain why the effect will indeed occur in the (realistic) situation where caustics due to lensing are significant. Whether or not the effect is significant for number counts depends on the associated angular scales and on the distribution of inhomogeneities in the universe. It could also possibly affect the spectrum of CBR anisotropies on small angular scales, indeed caustics can induce a non-Gaussian signature into the CMB at small scales and lead to stronger mixing of anisotropies than occurs in weak lensing. 
G. F. R. Ellis, B. A. Bassett and P. K. Dunsby