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A new constellation shaping technique has been proposed, which efficiently and effectively reduces the peak-to-average power ratio (PAPR) of orthogonal-frequency-division-multiplexing (OFDM) systems. Its novelty is based upon a simple transformation in the time domain instead of the commonly used frequency domain. This transformation is shown to ensure PAPR reduction regardless of the OFDM system input. As compared with previously known PAPR reduction methods, the proposed technique requires minimal implementation complexity, while it offers considerable performance gains. Closed form analytical expressions for the distribution of the PAPR and the bit error rate are derived. The accuracy of these analytical expressions is verified via equivalent performance evaluation results obtained by means of Monte Carlo computer simulations. Furthermore, performance comparisons made with other competitive techniques show that the proposed technique is an attractive alternative for PAPR reduction.